Outlook positive for Irish economy in 2005

Ireland Online:

At the Friends First quarterly economic outlook, it has been predicted that employment in Ireland will grow by 55,000 in the next year, despite a decline in domestic manufacturing.

Other good news for the Irish economy was that GDP is to be revised upwards to 5.5% and GNP upwards to 5.2%, while global growth has eased in first half of 2005.

Irish exports are expected to deliver growth of 5.8% in the "'most challenging investment environment in the last decade'.

Speaking at the launch of the Quarterly Economic Outlook, Jim Power, Chief Economist, Friends First said: "Investors today are in the most challenging investment environment of the last decade. Low interest rates and an advanced residential property market have prompted increased commitment to investing abroad.

"Equities are showing potential for better return in the medium term, while demand for bonds remains strong. The economic outlook for the remainder of 2005 is positive, with consumer confidence high.

Manufacturing future bleak - economist

Investors face many challenges - Power