Ulster Bank predicts growth for Irish economy
Thursday, August 26, 2010 - 07:18 AM
Ireland's economy turned a corner in the first half of this year, according to Ulster Bank's latest economic update.
The bank is revising upwards its economic forecast for this year mainly because of a surge in the output and exports of the multi-national sector.
In its latest update it is predicting GDP will grow by 1%, up from 0.5%.
There has also been a modest improvement in the output of both the food and beverage sector and overall consumer spending is expected to record a positive second quarter.
However, Chief Economist with Ulster Bank, Simon Barry said there is no positive news on the unemployment front.
