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Ireland Sees Solid Start To 2015 And Record Low Borrowing Costs

Ireland's economic growth rate hit a nine-year high in 2014, according to the central bank, and PMI data paint a buoyant picture at the outset of 2015, boding well for another year of economic recovery.

Ireland's central bank estimates that gross domestic product rose 5.1% in 2014, and also expects a 3.7% rise in 2015. The 2015 expansion should return the Irish economy to its pre-crisis peak. As of the third quarter of last year, GDP was still 3.8% below the high recorded in the final quarter of 2007, having reclaimed around two-thirds of the 10.7% drop in GDP seen during the financial crisis.

The central bank's optimism for 2015 is supported by the first batch of survey data for 2015. The Investec PMI, produced by Markit, showed the output of the combined manufacturing and service sectors growing at one the strongest rates seen since the financial crisis, building on… Read More …