ESRI revises GNP growth down to just 2.3%

The State's economic and social research institute is predicting growth next year to hit the lowest levels since 1992.

The think-tank is revising its economic outlook for 2007 downwards.

It is predicting GNP growth of just 2.3% next year, the lowest rate since 1992.

The ESRI's Dr Alan Barrett said that as many as 20,000 jobs could be lost in the construction sector in the coming 12 months.