Central Bank Expects Growth To Be Stronger Than Originally Predicted

Central bank expects growth to be stronger than originally predicted

The Central Bank has revised upwards its prediction for growth in the Irish economy this year. It expects GDP to expand by 3.7 per cent, a 0.3 per cent increase on previous forecasts. Estimated GNP growth is put at 3.3 per cent, a jump of 0.2 per cent. The improved outlook is down to a number of factors, including export growth, the improving labour market and investment growth. However the Bank's economists are warning that people's high levels of debt are still a 'headwind' against a strong recovery in consumption.