Economy set for surge in strength

THE prospect of the Irish economy entering another strong growth period is underpinned by two key sets of economic data just published.

The economy surged in the final three months of last year according to new Central Statistic Office figures while the Central Bank credit figures continue to set new records.

Economic growth hit 3.3% last year well up on the dismal 0.1% stagnation figure achieved in 2002 while an increase of over €900 million in mortgage lending pushed the annual growth rate to 26.1%, the highest figure since the statistics began in late 1996. The rate was 25.8% in January.