Some comforts as we face property correction

TWO pretty negative reviews of the economy in recent weeks suggests it’s going to be a white-knuckle ride for the property sector in particular, resulting in the lowest growth performance for the Irish economy since 1991.

Davy Stockbrokers, which has been negative on the outlook since mid-year, on Thursday said GNP growth this year would be no more than 2.1%, the most negative forecast to date.

Before Christmas the ESRI, also on the conservative side when it comes to forecasting, said it was anticipating growth of 2.3%.