Roundup of Economic Forecasts:
The forecasts for the third quarter shown here reflect some interesting changes to the forecasts published at mid year.
Most show a substantial jump in expectations for the outcome for 2022. Typical is the ESRI which has bumped up its third quarter forecast of Modified Domestic Demand (MDD, a better measure of real growth than GDP) from 4.4% for 2022 to 7.5%.
On the other hand, forecasts for 2023 have been reduced significantly with the Department of Finance foreseeing little growth next year, while the Central Bank and the ESRI are a bit more positive.
Forecasts of inflation for this year are slightly revised up and substantially for 2023.