GDP to top 5.5%, says AIB

AIB joined the chorus of upbeat views on the Irish economy yesterday, with predictions that Irish GDP growth would top 5.5% this year and that the housing market was in line for a soft landing after years of runaway price rises.

But the bank warned of possible nasty surprises from an international environment that was “fraught with risks and uncertainties” and said sustained high oil prices would knock as much as 1% off the Irish growth figure.

Speaking at the launch of the bank’s quarterly review of the Irish economy, chief economist John Beggs said there was scope for new