Forecaster raises GDP growth outlook to 1%

One of the least optimistic economic forecasters has become slightly less pessimistic about the Irish economy’s prospects, upping its outlook for 2013 GDP growth by nearly half a percent.

In the spring edition of its quarterly economic observer, the Nevin Economic Research Institute has predicted Irish GDP growth of 1% for 2013, to be followed by 1.2% in 2014 and 2% in 2015.

Previously, the independent economic think-tank had given a gloomier outlook of just 0.6% growth for this year and 0.8% in 2014, with the economy not likely to see growth of over 1% until 2015.