January 26, 2016 / 11:03 AM / 2 years ago

Irish central bank increases 2015 GDP growth forecast to 6.6. percent

DUBLIN, Jan 26 (Reuters) - Ireland’s central bank increased its forecast for 2015 economic growth to 6.6 percent on Monday from a 5.8 percent projection three months ago, citing continued growth in consumer spending and investment.

The upgrade puts the bank in line with government forecasts for growth of around 7 percent, which would likely make Ireland the fastest growing economy in the European Union for the second year in a row.

Ireland’s statistics service is due to release 2015 GDP data in March.

“The latest forecasts continue to suggest that the economy is going through a period of exceptionally strong growth which is likely to ease only modestly over this year and next,” the bank said.

The bank forecast that the economy would grow by 4.8 percent in 2016 and 4.4 percent in 2017. (Reporting by Conor Humphries Editing by Jeremy Gaunt.)

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