GNP heads for 3.7% growth

THE Irish economy is on the rebound with a record 76,000 houses being built, Gross National Product (GNP) growth heading for 3.7% and the tax take expected to be E1 billion more than forecast.

Davy Stockbrokers latest commentary on the Irish Economy records an upgrade in their forecasts on a number of key economic indicators in a bullish outlook for the normally cautious stockbroking firm.

“Reports from the main building materials suppliers and builders’ merchant groups indicate that sales to the housing sector are running well ahead of last year, while new house registrations were 10% higher in the first quarter,” Davy said.