Predicted growth in GDP revised down as hard Brexit still on the table

The expected growth in Ireland's GDP has been revised down by researchers as Britain's future relationship with the European Union remains uncertain.

Davy Research have amended the forecast growth down from 5.6% to 5% and 4.1% in 2020.

Uncertainty over Brexit is a factor in this but the economy is still performing strong, according to Davy.

"We still expect employment to grow by 2.4% in 2018 accompanied by 3.5% wage growth," the group said.

"Buoyant household incomes are already evident in retail sales, up 5% in February."

Davy Research added that they expect the UK to stay in the single market for the rest of 2019 and 2020, either through an Article 50 extension or a withdrawal agreement.