IBEC predicts end to falling employment in turning point year

Business group IBEC has said it expects this year to be a turning point for the economy.

In its economic forecast published today, the group said it sees Ireland's GDP growing by 1.8% this year, up significantly from last year's 1.2%.

It also predicts that 2013 will see an end to falling employment figures, with the number of those out of work stabilising, but remaining high.

It also said private investment will increase by 10%.

IBEC's Chief Economist, Fergal O'Brien, has said the economy is heading in the right direction.