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IBEC reduces Irish growth forecast

Monday, October 22 07:29:41

IBEC's latest economic forecasts are following the recent trend of less optimistic predictions for growth here. IBEC has said it sees overall economic output or GDP of just 0.8pc this year, down from its previous forecast of 1pc.

But that is still a slightly better outturn than the one that is factored into the Department of Finance numbers of 0.7pc. IBEC has cited poor trading conditions around Europe as the reason for cutting its growth forecasts. Those weaker conditions will reduce the demand for Irish exports which had been growing strongly

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