TRACKING DUBLIN’S PERFORMANCE

The Dublin City Region plays a pivitol role in the economy of Ireland. The Dublin Economic Monitor tracks the capital’s performance quarterly to provide insightful data.

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December 2020

Latest Dublin Economic Monitor shows glimmers of hope for the Capital’s economy

September 2020

Deep and widespread implications of Covid-19 cause a collapse in Dublin’s economic activity.

May 2020

Covid-19 shuts down Dublin’s economy and accelerates digitalisation. Latest economic data on the capital.

  • “Retail activity across both Dublin and Ireland showed better results in Q3 with an overall positive YoY growth rate. The divergence in sector performance remained extreme with increases in spending on household goods while discretionary goods and entertainment showed significant declines. Online sales growth continues to post strong results.”

    Michael McNamara, Global Head of SpendingPulse, Mastercard

  • “While the Dublin PMI signalled a rebound in business activity in Dublin during the third quarter of the year, measures of new orders and employment were less positive and therefore are a cause for concern. With pandemic restrictions now being tightened again, the fourth quarter looks set to provide further challenges for companies and puts into doubt the ability of the local economy to recover quickly.”

    Andrew Harker, Economics Director, IHS Markit

  • ““The Economic Monitor reflects an eventful quarter which saw strong bounce backs in economic performance quickly run out of steam. This is an unfortunate and inevitable consequence of the ‘stop-go’ cycle that dealing with Covid-19 has pushed us into. Hope for 2021 emerged on the news of a potential vaccine. Of course, Brexit looms large and could lead to an even more complex operating environment in January without a deal.”

    Andrew Webb, Chief Economist, Grant Thornton

HIGHLIGHTS

DUBLIN’S UNEMPLOYMENT RATE

increased to 8.2% in Q3 2020, while the number of Pandemic Unemployment Payment recipients rose to over 108,000 at the start of November.

HOSPITALITY IN THE CAPITAL

continued to be severely affected by the Covid-19 pandemic, with restaurant bookings falling to negligible levels in October and November, and hotel occupancy rates falling to below 20%.

BUSINESS ACTIVITY IN DUBLIN

continued to be severely affected by the Covid-19 pandemic, with restaurant bookings falling to negligible levels in October and November, and hotel occupancy rates falling to below 20%.

RETAIL SPENDING

showed a robust recovery in the third quarter, increasing by 6.8% YoY on the back of particularly strong household goods sales.

COMMUTING PATTERNS IN THE CAPITAL

remained depressed through the second half of 2020. Public transport trips were down by 58.2% YoY in Q3 2020, while traffic volumes on Dublin’s main thoroughfares remained down by almost a third in November.

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