Growth set to top 5%, says BoI

Bank of Ireland has upped its growth forecasts for the economy by more than 2% for this year.

The bank feels even more bullish about the economy than both the Department of Finance and the Central Bank, which also recently significantly upped their forecasts. In its latest outlook, published yesterday, Bank of Ireland said it expects GDP to grow by 5% this year and by 4.2% in 2015.

Those predictions are up from BoI’s previous estimates of 2.8% for this year and 3.4% for next which were made in July.