ESRI: Strong growth to continue

The ESRI expects the economy to continue growing strongly this year and next, but has warned that sluggishness in the wider eurozone remains a threat.

The economic think-tank said, via its latest quarterly outlook, that it expects GDP to grow by 3% this year and 3.7% next year — rates in line with Ibec’s forecasts, but well ahead of recently improved Central Bank outlooks.

In terms of its more favoured GNP barometer, which excludes the economic contribution of foreign multinationals and is, according to the ESRI, a better measure of Irish living standards, the body is forecasting growth of 3.4% this year, followed by 3.8% growth in 2015.