Economics

Ireland’s economic growth could be double previous estimates – Davy

Stockbroker says Europe could avoid a recession as ‘global outlook looks a little less challenging’ than before

Davy issued a more positive forecast for inflation than what is being estimated in official figures. Picture: Getty

Ireland’s GDP could grow by as much as 6.9 per cent this year, according to new Davy research – nearly doubling the stockbroker’s previous forecast of 3.5 per cent economic growth in 2023.

In a research note published this morning, Davy also said Europe could potentially avoid a recession because the “global outlook looks a little less challenging” than before.

In Ireland, it said retail sales, employment, and output from both the multinational and indigenous ...