Green shoots of global recovery set to boost economy, forecasts ESRI

THE Economic and Social Research Institute (ESRI) has raised its forecasts for Irish economic growth, saying it will benefit from the pick-up in the global economy.

In its latest quarterly outlook, the ESRI said now expects gross domestic product to be 2.5% this year and 3.5% next year.

ESRI economist Danny McCoy said this was a modest increase on its previous forecasts and reflects the improvements in the global economic outlook.