Eurozone has plenty more capacity for growth

The economic prospects for Ireland’s main export market, the eurozone, look better now than at any time in the past decade or more, writes Oliver Mangan.

Following the economy’s strong performance in 2017, the OECD is forecasting that eurozone GDP will grow by 2.1% in 2018 and 1.9% in 2019. This is broadly in line with the view of the European Commission.

The latest ECB staff forecasts, which were published last month, show the Central Bank has become even more upbeat in its view of the economic outlook, with its GDP growth projections revised substantially higher.