Economy to bounce back with 2.8% GDP growth next year, report predicts

THE economy is emerging from recession and will achieve the second highest GDP growth of 2.8% in 2011, behind Slovakia on 4%.

Growth this year will be -1% according to the Economic Eye forecast produced twice a year by consultancy group Ernst & Young.

In an upbeat assessment of the economic outlook, Neil Gibson, special adviser to the group, said Ireland should distance itself from the so-called “PIIGS” countries including Spain, Portugal, Italy and Greece.