Irish economic recovery follows global trend onto firm footing

There is growing optimism that the world economic recovery will pick up pace this year, and that bodes well for Ireland, writes Oliver Mangan.

Last week, the Bank of England became the latest body to revise up its growth forecasts. It is projecting that the UK economy will grow by 2.9% this year, compared to 2.6% last year.

It expects the UK economy to also expand by 2.9% in 2016, an upward revision from its previous forecast of 2.5%.