The €95.8 Billion Slowdown

Amidst the 'doom and gloom' of the recent ESRI Quarterly Economic Review, there is a small ray of economic consolation for Ireland's hard pressed marketers. Namely this: consumer spending will grow in 2008 - not contract, stagnate, or take any other nasty turn.

Consumers will spend €95.8 billion this year according to the ESRI - up nearly €5 billion on last year. They are forecasting a consumer spending growth rate of 5.3% - of which 3.0% will be volume growth and the balance will be inflation. That's a lot of extra spending whichever way you look at it.

Hopefully that'll cheer you up for the weekend!

Happy Lá Fhéile Pádraig, by the way, from all of us at Amárach.