AIB: Housing slump to continue into next year

AIB has issued an increasingly gloomy assessment of the short-term prospects for the Irish economy.

In its latest forecast, the bank says it expects economic growth to be just 1.3% this year due to the ongoing slump in the housing market.

It also says it expects this slump to continue into next year, with growth of just 2.5% forecast for 2009.

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