Growth outlook cut for a second consecutive quarter

THE Central Bank has lowered its growth projections for the Irish economy for the second consecutive quarter.

In its latest quarterly bulletin, published yesterday, the Central Bank forecasts the economy, in GDP terms, will grow by 1% this year and by 2.3% in 2012.

Last October, when it warned of “a slowdown in momentum”, it had forecast that Irish GDP would grow by 2.4% during 2011. That figure was down 0.4% on the preceding outlook last summer.