Economy tipped to grow 6% in 2006

ECONOMIC growth will hit 6% this year driven by a boom in consumer spending, according to a new report.

Despite a further 0.75% hike in European Central Bank (ECB) rates from their current level of 2.25% to 3% by the year end, the report predicts the economy is on track for its strongest growth since the US slowdown of 2000/2001.

Neither the prospect of more expensive debt nor persistently high oil prices will halt the progress of the economy, said the report.