Irish GDP growth picks up pace

YOSHUA ARIAS

Irish jockey Jamie Spencer (R), 29 March 2014.

Irish GDP growth picks up pace


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Irish GDP growth projections for 2018 have been revised from 4,7 to 6,5%; the European Commission projects 5,6% growth/

According to the Bank of Ireland, consumer confidence and investment are rising and inflation remains subdued,  fuelling the continued expansion of the economy.

Ireland expects to have the highest growth rate in the Eurozone in 2018, given average GDP growth of just 2,1% in the 19-member currency union.

Irish unemployment has shrunk to 4,5%, with construction boosted by soaring housing prices.

Currently, the biggest threat for the Irish economy is the possibility of an abrupt Brexit, as the UK is the Republic’s biggest trading partner. During next years’ “transition period” for the UK, Ireland expects 4,2% GDP growth.

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