Despite inflationary pressures, consumer spending and the labour market remain strong.
The headline measure, gross national income , expanded by 5% according to the Central Statistics Office .
It involves subtracting the retained profits of some firms which have Irish HQs and making adjustments for some foreign-owned assets which are located in Ireland. By contrast the figures point to a recovering domestic economy with personal spending on goods and services rising by almost 5% in 2023.The Irish labour market has performed strongly over the last year with unemployment at record lows.
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