Economy set to increase by 4.8%

The economy will increase 4.8% this year and 3.3% next year as a broadbased recovery takes hold, according to EY’s latest economic outlook.

These forecasts have been revised up from a growth rate of 2% for 2014 and 2.4% for 2015 contained in the firm’s last economic outlook.

Ireland is on course to be one of the fastest-growing economies of the 28 EU states over this year and next.