Irish Economy: Central Bank says 2008 growth will be “significantly less than 1%”
Jul 10th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Central Bank Governor John Hurley, at the launch of the Central Bank and Financial Services Authority of Ireland's annual report today, said that the bank was revising its 2008 growth forecasts downwards for GDP and GNP, saying the economy would grow, but at a rate of significantly less than 1%. He said the significant weakening in the housing sector would detract considerably from growth this year and added that growth was expected to pick up slightly in 2009, but would remain below 2%. /SPAN>