Ireland is to return to growth in 2013 according to new figures.
Danske Research says we are ‘heading out the crisis’ despite the weakening global economy and growth of just 0.01% in the 2nd quarter.
It says it expects Irish growth to return across 2013 and 2014 driven by exports and helped by a stabilisation in domestic demand.
The Danske forecast is for Irish GDP to grow about 0.8% in next year with growth projected to be as high as 2.3% in 2014.
It also says that an improvement in the domestic market is also expected with house prices rising 0.2% in July and 0.5% in August.
The research entitled “Ireland heading out of the crisis” says the housing market appears to have stabilised and has now shown 2 consecutive months of modest price increases.
It says the turnaround reflects an improved economic environment, low interest rates and the absence of new supply.
It adds that fiscal tightening is progressing as planned and that unemployment here is currently stabilising at a high level.
It also notes that “Ireland successfully returned to the markets over the summer and the 2014 funding cliff has now more or less been demolished”.
Read the full report href="http://www-2.danskebank.com/research"> here
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