Oireachtas Joint and Select Committees

Tuesday, 8 October 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Macroeconomic Forecasting: Discussion with Department of Finance

8:00 pm

Mr. John McCarthy:

No, they are on a gradual recovery path. Looking at the past three or four quarters, there is a modest improvement in building and construction. Since the second quarter of this year, consumption figures have been strong, up by 0.7% quarter on quarter, and retail sales in the third quarter were very strong, increasing by 1.5% in annual terms. If we include cars, it increases by 3.5%. There is a modest recovery under way in domestic demand.