Ibec downgrades growth outlook

Ibec has downgraded its short-term growth forecast for the economy, less than six months after upping its outlook.

The employers representative body said that it expects the economy to grow 0.8% in GDP terms this year.

While that outlook is still ahead of many (the Department of Finance and Central Bank are anticipating 0.7% and 0.5% growth levels, while Bank of Ireland recently downgraded to 0.8% having upped its outlook from 0.6% to 1% in August), it somewhat dampens Ibec’s previously bullish stance.