ESRI predicts 4% stronger GDP by 2012

IRELAND’s gross domestic product (GDP) will be nearly 4% stronger by the end of 2012 — according to state-backed think-tank the ESRI — but the economy is still only “limping along” and no relief on the jobless front is on the way, the institute added.

In its latest quarterly economic commentary — covering winter 2010 — the ESRI said that it sees the Irish economy, by GDP, growing by 1.5% this year and by a further 2.25% in 2012, while its two year GNP growth forecasts are 0.25% and 1.5%, respectively.

“While our forecasts envisage positive growth for the first time since 2007, the rates of growth are still slow. Ireland is still an economy which is limping along,” commented ESRI research professor Alan Barrett.