Ireland has become the top destination for US multinational investment and the economic bond between the countries is only likely to intensify, according to a leading Wall Street economist.

US corporate investment in Ireland amounted to nearly $130bn (€96bn) over the past five years; roughly 14 times larger than the amount American companies spent in China over the same period.

US investment into Ireland amounted to $30.5 billion (€23.6bn) last year, marking a 9% increase on 2010 and the second highest annual level on record.

EXPECT few job announcements from US companies in Ireland until after November 6, 2012.

LINKS between Ireland and the US have become stronger since the financial crisis erupted according to a new report.