IBEC: Economy to grow 1% in 2012

The economy is set to grow 1 per cent this year due to a weaker euro and lower interest rates, according to a report from employers’ lobby IBEC.

31st July, 2012
62 per cent of Irish exports went outside of the euro area last year.

The economy is set to grow 1 per cent this year as a weaker euro helps exports and lower interest rates for mortgage holders increases consumers’ spending capacity, according to a report from employers’ lobby IBEC.

“Ireland will benefit from the weaker euro more than any other eurozone country, which will ensure that exports drive a second successive increase in annual GDP,” IBEC said in a statement attached to its Quarterly Economic Outlook. “Falling...

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