The European Commission has upgraded its outlook for the Irish economy, saying it expected a strong, export-led rebound in the second half of 2021. In its Spring 2021 Economic Forecast, the Commission said it expects the Irish economy to grow by 4.6 per cent in GDP terms this year, up from 3.4 per cent previously, and by 5 per cent next year. The Commission said it expected the Irish economy to rebound strongly in the second half of the year with exports increasingly benefitting from an improving external environment. “Improvements in the external environment, including in the US with which Ireland trades significantly, will benefit the economy,” it said. In its forecast, the Commission also noted that Ireland was the only European country to register positive growth last year.

Source: The Irish Times May 12, 2021 10:20 UTC