Irish Economy: Central Bank says GDP likely to rise by 1% in 2011 and GNP to decline by about 0.4%
Oct 4th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Economy: The Central Bank said today that GDP (gross domestic product) growth may slow in the latter part of the year but the strong data for the first half point to a likely increase of about 1% for the year as a whole, with GNP (gross national product) expected to decline by about 0.4%. Next year, the expansion in GDP is projected to be 1.8%, while GNP will likely grow by 0.7%. The latter figures represent more modest rates of expansion than previously anticipated. The Bank had previously forecast GDP growth of 2.1% in 2012.