Growth forecast for Ireland to be downgraded

Tuesday 26 October 2010 10.04
Economic - forecast is currently being drafted
Economic - forecast is currently being drafted

An economic forecast for the Republic of Ireland and Northern Ireland to be published next month will downgrade the growth forecast for 2011 and 2012.

The Ernst and Young Economic Eye Winter Forecast for 2010 says the labour market will be very slow to climb out of recession.

The report will also predict that it will take ten years for Irish employment levels to return to their highest point.

The forecast is currently being drafted.

One of the report’s authors, Neil Gibson of Oxford Economics, told RTÉ's This Week programme the forecast will also reflect a changed situation in Northern Ireland as a result of the spending review announced by British Prime Minister David Cameron.