There is further evidence today that the Irish economy is on the road to recovery.

New figures from the Central Statistics Office show overall economic growth of 2.7% in the first quarter of the year.

The CSO also says the economy grew slightly last year, following a revision to an earlier estimate of economic contraction in 2013.

Analysts say the numbers, along with the positive Exchequer figures published yesterday, will mean fewer cuts will be needed in the Budget.

KBC Bank Chief Economist, Austin Hughes, says the economy is performing well: