Post-Brexit Consumer Spending Outlook

The first, post-Brexit forecasts for Ireland's economy are starting to emerge.

We've been paying particular attention to what they say about the prospects for Irish consumer spending.

The chart summarises recent forecasts from NERI and from Merrion Capital.

While the forecasts differ slightly, they don't differ much from what they were saying before the UK voted to leave the EU.

It appears a lot of this year's consumer spending growth is already 'baked in' at the half-way point.

While next year will enjoy some momentum from tax cuts and income growth (especially as unemploment falls). 

None of this is to say that Brexit doesn't raise important issues for Irish exporters - and importers.

But at least it suggests there's no need to panic, not just yet anyway.