Growth and employment picking up pace this year, says Davy

Davy Stockbrokers expects unemployment to dip to just over 9.5% next year and by a further 1% in 2016 as recent indicators suggest Ireland’s economy is the fastest growing in the Eurozone.

The recent pick-up in the economy has led to Davy upgrading its forecast for GDP growth to 3.5% this year, from the 2.5% previously predicted.

Forecasts for 2015 and 2016 are for 3% and 2.8% growth respectively — which would return GDP to pre-recession levels by 2016.