ESRI doubles growth forecast but reiterates call for tough Budget

The ERSI has doubled its forecast for growth in GNP this year as unemployment declines and consumer spending increases but insists Michael Noonan should not ease up on austerity.

9th October, 2013
The ESRI sees consumer spending increasing 0.2 per cent in 2013, compared to the 0.4 per cent drop it predicted in May.

The Economic Social & Research Institute (ERSI) has doubled its forecast for growth in GNP this year as unemployment declines and consumer spending increases but insists Michael Noonan should not ease up on austerity.

GNP will grow by 2 per cent in 2013 and 2.7 per cent in 2014, according to its Quarterly Economic Commentary. That compares to a May estimate that pegged growth for the two years at 1 per cent and 1.5 per cent respectively.

* **Balancing political reality...

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