Ah, nostalgia...

luckat

http://www.pwc.com/extweb/ncpressrelease.nsf/docid/F3004FB1534CAAB2802572C6003B2A89

Ireland's GDP growth forecast to be more than double the average Euroland growth rate for 2007

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Ireland had the fastest growing Euroland economy in 2006 and is expected to maintain its first place in the monetary union growth rankings in both 2007 and 2008 according to PricewaterhouseCoopers’s latest report on the Euroland economies.

The latest economic analysis from PricewaterhouseCoopers forecasts that the Irish economy will grow by 5.4% in 2007 and 4.6% in 2008. This is more than double the corresponding average growth rates for Euroland. Not only is Ireland expected to better the performance of the big four EU economies (UK, Germany, France and Italy) in both 2007 and 2008, but it is expected to outperform Luxembourg and Slovenia, the other exceptional growth economies of the Euroland.

The report emphasises the growing reliance of the Irish economy on consumer spending as a driver of growth relative to investment, which became more pronounced in the fourth quarter of 2006. This is partly due to the attractiveness of credit to Irish households, underpinned by the continuing strength of the housing market and the higher rate of inflation relative to the Euroland average. The inflation disparity means that the centrally-set Euroland interest rates make borrowing relatively cheaper in real terms in Ireland.

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consultech

luckat wrote: »

http://www.pwc.com/extweb/ncpressrelease.nsf/docid/F3004FB1534CAAB2802572C6003B2A89

Ireland's GDP growth forecast to be more than double the average Euroland growth rate for 2007

Print-friendly version
Email to a colleague

Ireland had the fastest growing Euroland economy in 2006 and is expected to maintain its first place in the monetary union growth rankings in both 2007 and 2008 according to PricewaterhouseCoopers’s latest report on the Euroland economies.

The latest economic analysis from PricewaterhouseCoopers forecasts that the Irish economy will grow by 5.4% in 2007 and 4.6% in 2008. This is more than double the corresponding average growth rates for Euroland. Not only is Ireland expected to better the performance of the big four EU economies (UK, Germany, France and Italy) in both 2007 and 2008, but it is expected to outperform Luxembourg and Slovenia, the other exceptional growth economies of the Euroland.

The report emphasises the growing reliance of the Irish economy on consumer spending as a driver of growth relative to investment, which became more pronounced in the fourth quarter of 2006. This is partly due to the attractiveness of credit to Irish households, underpinned by the continuing strength of the housing market and the higher rate of inflation relative to the Euroland average. The inflation disparity means that the centrally-set Euroland interest rates make borrowing relatively cheaper in real terms in Ireland.

<snip>

Ah nostalgia... it's not what it used to be.

kelle

Somebody was living in cloud cuckoo land.
Was it really believed Ireland could continue to grow and prosper on borrowed money - was something not bound to fall apart???