Ibec forecasts growth of over 1%

Ibec still sees the economy growing over 1%, this year, saying it is cautiously optimistic that a better performance in the second half can offset poor first quarter figures, which recently showed GDP dropped by 0.6%, year-on- year, in the opening three months of the year.

In its latest economic outlook, published this morning, the employers’ representative forecasts GDP growth of 1.1% for 2013, ahead of a stronger 2.3% rise next year.

While the 2013 GDP forecast is down by nearly 1% on its own estimate at the start of the year, Ibec remains more bullish than most regarding the economy.