Investec Ireland predicts second election

The Irish economy will grow strongly, but faces increased challenges including a political stalemate which will likely lead to a second election this year — in November, Investec Ireland has predicted.

GDP will grow 5% this year and by 4% in 2017, while more jobs will help boost consumer spend.

However, chief economist Philip O’Sullivan said the unemployment rate will be slow to fall as returning emigrants and more people re-join the workforce.