The pace of economic growth will be slower this year than previously thought, according to the quarterly economic commentary for Winter 2012 from the ESRI.
Growth as measured by GDP is estimated at 1.3 per cent for 2012 and is forecast at 1.3 per cent and 2.3 per cent in 2013 and 2014 respectively. Domestic demand remains very weak and is due to contract again in 2013 and 2014, though the pace of contraction is easing, the ESRI said.
The commentary said that growth...
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