Unemployment rate may fall to 7% in two years

Ireland’s unemployment rate could fall to as low as 7% by 2017, Davy Stockbrokers has suggested.

In its latest economic outlook, the company upped its GDP forecasts substantially. It now feels 2014 growth will amount to 4.8%, with the economy likely to grow by 3.7% and 3.4% this year and next.

It previously expected the economy to grow by 3.5%, 3%, and 2.8%, respectively, over the course of 2014-16.