Ibec predicting 1.8% growth

21/01/2013

That would be an increase of .6% from the growth rate of 1.2% experienced in 2012.

The lobby group has identified 2013 as a turning point for the Irish economy and its predictions are slightly more optimistic than even those of the Government!

According to IBEC, an improvement in Ireland’s sovereign debt situation should lead to a rise in consumer sentiment, while exports are expected to regain momentum as the euro zone recovers during the second half of the year.

“We are edging towards a deal on Irish bank debt, which could provide a much needed boost in consumer sentiment. Exports continue to perform strongly,” says Ibec economist Fergal O'Brien.

“Exports continue to perform strongly, despite difficult trading conditions. Importantly, we're seeing more businesses successfully making the transition from domestic sales to exports, and progress continues in developing new markets. This will lead to new job creation.

“Although many Irish households continue to grapple with debt and unemployment, there is growing evidence that 2013 could be a turning point for the domestic economy.”