Goodbody forecasts 5.5% economic growth this year

Ireland will have the fastest-growing economy in the euro area again this year, Goodbody Stockbrokers has predicted.

The firm has upgraded its GDP forecast for this year from 4.3% to 5.5%.

It said that Ireland is experiencing its most promising economic expansion since the 1990s.

"We think that it's sustainable," said Dermot O'Leary, chief economist with Goodbody.

"We think that we can get 4% growth next year and the year after, which would make Ireland the fastest-growing economy, actually, for four years in a row in Europe."