Councils can monitor the economic performance of an area against key economic indicators including employment, enterprise, investment, housing, consumer behaviour and commercial property to benchmark their progress against local and national policy targets.
The Dublin Economic Monitor is a joint initiative on behalf of the four Dublin local authorities to track developments in the capital’s economy.
The Dublin City Region (i.e. the four Dublin local authorities combined) plays an increasingly important role in the economy of Ireland and it is important that its performance is properly tracked.
Co-ordinated by Dublin City Council, the commissioning of the Monitor represents a further manifestation of the enhanced role of local authorities in the area of economic development and enterprise support, in line with the local government reform programme.
While there is significant information available on developments in the national economy, the Monitor is intended to address the absence of a regular bulletin on trends in the Dublin economy. It will be of particular interest to all those doing business in Dublin or considering locating here.
A key objective of the Monitor is to develop and publish new data series each quarter to increase our understanding of the performance of the Dublin economy.
The Monitor is overseen by Jamie Cudden, Dublin City Council and produced by EY-DKM Economic Consultants. It involves collaboration with KBC/ESRI to develop Dublin consumer sentiment data and MARKIT to develop a new Dublin Purchasing Manager Index (PMI). The Dublin Dashboard create the interactive dashboard that accompanies the report.
The Monitor also now includes the Mastercard SpendingPulse to deliver unique insights for consumer and tourism spend. In collaboration with Mastercard, the SpendingPulse gives timely insights based on factors like retail sales, ecommerce, and household goods expenditure to give a wider look at Dublin’s economy.