GDP predicted to rise by 0.8%

GDP will rise 0.8% this year before growing by a more robust 1.5% in 2015.

Unemployment will reach 14.8% by the end of 2012, although the budget deficit will fall within the EU/IMF bailout target for this year, according to Merrion Stockbrokers economist Alan McQuaid’s latest quarterly economic outlook.

Mr McQuaid’s GDP view is at the upper end of the recent clutch of economic forecasts. At the most optimistic end of the scale, the ESRI predicts GDP growth will reach 1.8% this year.