Next year before sustainable levels of growth, Ernst & Young predicts

Ireland will have to wait until next year to see sustainable levels of economic growth, with any GDP rise of over 2% unlikely until 2015, professional services giant Ernst & Young has forecast.

In its latest eurozone forecast, published yesterday, Ernst & Young — traditionally one of the more pessimistic readers of the Irish economy in recent times — has lowered its outlook for 2013 GDP growth here from 1% to 0.1%.

However, it said Ireland should start to see sustainable growth of 1.9% in 2014, accelerating to 2.5% in 2015.