Dublin's economy has stagnated for the first time in 18 months when businesses were floored by Covid-19 restrictions, according to Dublin City Council's economic monitor.
The capital's economy had grown for 18 consecutive months, but recorded a decline in quarter four of 2022. A survey of business activity during the final three months of last year shows both manufacturing and construction sectors posting reductions in output.
However, the robust services sector softened the blow and continued to record a solid increase in activity. Overall, Dublin's headline rate dipped from 50.4 to 49.9. A reading above 50 indicates an overall expansion in activity while below 50 is an overall contraction.
