Ireland expected to outperform eurozone economy again this year

IRELAND is again expected to outperform the eurozone economy this year, according to a report by PricewaterhouseCoopers.

The report predicts the eurozone will grow by only around 1.5% on average in 2004, compared to about 4.5% in the US and around 3% in Britain. However, Ireland's GDP growth rate is expected to be in the order of 3.5% for 2004.

The report says expected GDP growth for Ireland for 2005 will pick up to around 4.5%. This recovery should be supported by more robust consumer spending growth as real incomes are boosted by employment gains and low inflation.