Brexit Boost for Irish Consumer Spending?

It won't grab the headlines, but the reporting of the Central Bank's latest Quarterly Bulletin has ignored an important feature, namely: the Central Bank has revised its forecasts for Irish consumer spending upwards from its bulletin back in April before Brexit. 

This doesn't mean the Central Bank thinks Brexit will boost Irish consumer spending (!), but rather reflects a better than expected outturn for 2015 and the stronger than expected momentum in the first half of 2016 before Brexit. Either way, consumer spending growth is expected to slow in 2017, but the total spend will nevertheless top €100 billion for the first time ever.

The chart shows the volume rate of growth in consumer spending from the Central Bank's most recent bulletins:

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