Bruegel Thinktank: This Week's Reasons To Be Cheerful
Do Irish power consumption figures point way forward?
The latest weekly update from the EU's influential Bruegel economic thinktank has some festive cheer for hard-pressed Irish businesses.
Since the start of the pandemic, Bruegel's observers have been tracking power usage across Europe to produce weekly charts which compare national power consumption in 2020 with the corresponding week in 2019.
The charts show that Irish power usage, which took a big hit in the spring, has been running at or above 2019 levels for most of the last quarter. If we take the Bruegel commentators' suggestion that energy consumption is a useful indicator of economic activity, the picture we're seeing is one of adaptation and resilience.
Happy Xmas everyone!