Ireland is expected to have the fastest growth in the EU in 2014
According to the 2014 Autumn Economic forecast published today, Ireland is expected to have the fastest growth in the EU in 2014 with real GDP growth forecast at 4.6%.
The European Commission’s autumn forecast projects weak economic growth for the rest of this year in both the EU and the euro area. Real GDP growth is expected to reach 1.3% in the EU and 0.8% in the euro area for 2014 as a whole. Growth is expected to rise slowly in the course of 2015, to 1.5% and 1.1% respectively, on the back of improving foreign and domestic demand. An acceleration of economic activity to 2.0% and 1.7% respectively in 2016 is expected to be driven by the strengthening of the financial sector (following the comprehensive assessment by the European Central Bank and further progress towards the Banking Union).
