Post on 24-May-2015
Snapshot of the Irish Economy
January 2010
40000
42000
44000
46000
48000
50000
€, m
illio
ns
2005:Q1 2006:Q1 2007:Q1 2008:Q1 2009:Q1
Quarterly GDP
1
Source: Central Statistics Office
Seasonally adjusted GDP at constant market prices
Quarterly Gross Domestic Product
10000
20000
30000
40000
50000
60000
€, m
illio
ns
2005:Q1 2006:Q1 2007:Q1 2008:Q1 2009:Q1
Quarterly GDP
1
Source: Central Statistics Office
Seasonally adjusted GDP at constant market prices
Quarterly Gross Domestic Product
10000
20000
30000
40000
50000
60000
€, m
illio
ns
1997:Q1 1999:Q4 2002:Q3 2005:Q2 2008:Q1
Quarterly GDP
1
Source: Central Statistics Office
Seasonally adjusted GDP at constant market prices
Quarterly Gross Domestic Product
Components of GDP
GDP = C + I + G + (X – M)
5000
10000
15000
20000
25000
€, m
illio
ns
2005:Q1 2006:Q1 2007:Q1 2008:Q1 2009:Q1
Other Services Industry & UtilitiesTransport & Comm Building & Const.Public Admin & Defence Agri, Forest & Fish
2
Source: Central Statistics Office
Seasonally adjusted GDP at constant factor cost by sector
Quarterly Gross Domestic Product
-15
-7.5
0
7.5
15
Gro
wth
Rat
e, %
2007:Q4 2008:Q2 2008:Q4 2009:Q2
Other Services Industry & UtilitiesTransport and Utilities Building & Const.Public Admin & Defence Agri, Forest & Fish
3
Source: Central Statistics Office
Growth on previous quarter of GDP at constant factor cost by sector
Quarterly GDP Growth Rates
Quarterly Growth Rates by Sector
2008 Q1 2008 Q2 2008 Q3 2008 Q4 2009 Q1 2009 Q2 2009 Q3Other Services 0.9 -1.6 0.5 -1.3 -1.0 -0.9 -0.2Industry & Utilities -1.6 0.4 -0.6 -12.9 8.7 -0.9 3.0Building & Construction 1.2 -5.1 -7.8 -10.4 -16.0 -7.6 -11.2Public Admin & Defence 0.2 1.5 -0.6 -0.3 -1.4 -2.0 -1.3Agriculture, Forest & Fisheries -5.9 -0.7 -0.3 -10.7 13.7 -0.2 -4.1Transport & Communications -0.6 -2.7 -1.5 -2.7 -4.4 -0.4 -2.0
90
100
110
120
Jan-05 Jan-06 Jan-07 Jan-08 Jan-09
Value Index Volume Index
4
Source: Central Statistics Office
Value and volume of retail sales for all businesses
Retail Sales Index
90
100
110
120
Jan-05 Jan-06 Jan-07 Jan-08 Jan-09
Value Index Volume Index
4
Source: Central Statistics Office
Value and volume of retail sales for all businesses
Retail Sales Index
90
100
110
120
Jan-05 Jan-06 Jan-07 Jan-08 Jan-09
Value Index Volume Index
5
Source: Central Statistics Office
Value and volume of retail sales excluding motor trade
Retail Sales Index
-6
-3
0
3
6
Ann
ual C
hang
e, %
Jan 05 Jan 06 Jan 07 Jan 08 Jan 09
CPI All Items
6
Source: Central Statistics Office
12 month change in prices from Consumer Price Index
Price Inflation
-6
-3
0
3
6
Ann
ual C
hang
e, %
Jan 05 Jan 06 Jan 07 Jan 08 Jan 09
CPI All Items CPI excl. Mortgage Interest
6
Source: Central Statistics Office
12 month change in prices from Consumer Price Index
Price Inflation
-6
-3
0
3
6
9
Ann
ual C
hang
e, %
Jan 05 Jan 06 Jan 07 Jan 08 Jan 09
Goods Services
7
Source: Central Statistics Office
12 month change in prices, broad sub-indices
Price Inflation
-10
0
10
20
Ann
ual C
hang
e, %
Jan 05 Jan 06 Jan 07 Jan 08 Jan 09
Energy Utilities
8
Source: Central Statistics Office
12 month change in prices, broad sub-indices
Price Inflation
30000
40000
50000
60000
€, m
illio
ns
2006 2008 2010 2012 2014
Current revenue Current spending
Source: Department of Finance
Current receipts and expenditure
Current Account Projections
-20
-10
0
10
20
Ann
ual C
hang
e, %
Jan 05 Jan 06 Jan 07 Jan 08 Jan 09
FoodClothingHousingTransportCommunications
Source: Central Statistics Office
12 month change in prices, detailed sub-indices
Price Inflation
-20
-10
0
10
20
Annua
l Cha
nge,
%
Jan 05 Jan 06 Jan 07 Jan 08 Jan 09
InsuranceHealthEducationAlcoholChildcare
8
Source: Central Statistics Office
3
6
9
12
15
% o
f la
bour
for
ce
Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10
Unemployment Rate
9
Source: Central Statistics Office
Seasonally adjusted standardised unemployment rate
Unemployment Rate
600
700
800
900
1000
€, g
ross
per
wee
k
2008:Q1 2008:Q2 2008:Q3 2008:Q4 2009:Q1 2009:Q2
All sectors Private sector Public sector
10
Source: Central Statistics Office
From the Earnings, Hours and Employment Costs Survey
Gross Weekly Earning
200
400
600
800
1000
1200
€, g
ross
per
wee
k
2008:Q2 2008:Q3 2008:Q4 2009:Q1 2009:Q2
Finance, ins. & real estate (K,L)Prof., science & tech. (M)Admin & support (N)Public admin & defence (O)Education (P)Health & social work (Q)Arts & entertainment (R to U)
11
200
400
600
800
1000
1200
€, g
ross
per
wee
k
2008:Q2 2008:Q3 2008:Q4 2009:Q1 2009:Q2
Industry (B to E)Construction (F)Motor trades (G)Transportation & storage (H)Accomm. & food service (I)Information & comm (J)
Source: Central Statistics Office
From the Earnings, Hours and Employment Costs Survey
Gross Weekly Earning
50000
100000
150000
200000
250000
300000
Num
ber
of e
mpl
oyee
s
2008:Q1 2008:Q3 2009:Q1
Industry (B to E)Construction (F)Motor trades (G)Transportation and storage (H)Accommodation and food service (I)Information and communication (J)
Source: Central Statistics Office
From the Earnings, Hours and Employment Costs Survey
Employment Numbers
50000
100000
150000
200000
250000
300000
2008:Q1 2008:Q3 2009:Q1
Financial, insurance and real estate (K,L)Professional, scientific & technical (M)Administrative and support (N)Public administration and defence (O)Education (P)Human health and social work (Q)Arts, entertainment and other recreation (R to U)
12
80
90
100
110
Num
ber
of e
mpl
oyee
s
2008:Q2 2008:Q4 2009:Q2
Industry (B to E)Construction (F)Motor trades (G)Transportation & storage (H)Accomm & food service (I)Information & comm (J)
Source: Central Statistics Office
From the Earnings, Hours and Employment Costs Survey
Total Earning Index, by sector
80
90
100
110
2008:Q2 2008:Q4 2009:Q2
Finance, insur & real estate (K,L)Prof, scientific & technical (M)Admin & support (N)Public admin & defence (O)Education (P)Health & social work (Q)Arts & entertainment (R to U)
13
Source: Central Statistics Office
50000
100000
150000
200000
250000
300000
350000
400000
450000
€, m
illio
ns
Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09
Loans to Irish Residents Deposits from Irish Residents
14
Source: Central Bank of Ireland
Data from balance sheets of Irish financial institutions
Loans and Deposits of Irish Residents
20000
40000
60000
80000
100000
120000
€, m
illio
ns
Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09
Agreed Maturity Accounts Demand AccountsCurrent Accounts Notice Accounts
15
Source: Central Bank of Ireland
Data from balance sheets of Irish financial institutions
Deposits of Irish Residents
20000400006000080000100000120000140000160000
€, m
illio
ns
Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09
Term/revolving loans Residential mortgagesLoans < 1 year Other mortgagesOther loans Instalment/HP/LeasesRepurchase agreements
16
Source: Central Bank of Ireland
Data from balance sheets of Irish financial institutions
Loans to Irish Residents
-20000
0
20000
40000
60000
€, m
illio
ns
2000 2002 2004 2006 2008
Exchequer current and capital receiptsExchequer current and capital expenditureExchequer balance on current and capital account
Source: Department of Finance
Current and capital Receipts and Expenditure and Exchequer Balance
Exchequer Receipts, Expenditure and Balance
30000
40000
50000
60000
€, m
illio
ns
2006 2008 2010 2012 2014
Current revenue Current spending
Source: Department of Finance
Current receipts and expenditure
Current Account Projections
3000
6000
9000
12000
15000
€, m
illio
ns2001 2003 2005 2007 2009
VATIncome TaxExcise DutiesStamp DutyCorporation TaxCapital Gains Tax
Source: Department of Finance
Receipts from main tax headings
Tax Receipts
3000
6000
9000
12000
15000
€, m
illio
ns2001 2003 2005 2007 2009
VATIncome TaxExcise DutiesStamp DutyCorporation TaxCapital Gains Tax
Source: Department of Finance
Receipts from main tax headings
Tax Receipts
3000
6000
9000
12000
15000
18000
€, m
illio
ns
2002 2004 2006 2008
Health & Children Social & Family AffairsEducation & Science Others
Source: Department of Finance
Expenditure under voted headings
Voted Expenditure
National Debt