Outlook for economy upgraded

For the first time in three years, Davy Stockbrokers has upgraded its outlook for the economy, according to a briefing document issued this morning.

Davy upgraded its growth outlook for Ireland from 0.5% to 1.3% and forecast 2.1% GDP growth for 2014.

Davy chief economist Conall MacCoille said it was the first time since he had joined the firm that it had upgraded its growth forecasts for Ireland.