Central Bank predicts slow recovery

The Central Bank today welcomed "reasonably strong signs of recovery" in the global economy while noting that "recovery in the euro area has been slow to take hold".

However in its Spring Bulletin, issued today, the Bank commented that "the prospects for the Irish economy are reasonably positive at present" and predicted a 3.75% increase in GDP for 2004 - a significant increase on the Bank's Winter Bulletin forecast of a 2.25% GDP increase.