Goodbody Stockbrokers says that its optimistic predictions for economic growth in Ireland are based on the soaring levels of investment here.
The firm has upgraded its domestic demand figures to 2.5 per cent in 2014 and 2.7 per cent in 2015 (up from previous forecasts of 1.5pc and 2.2pc, respectively).
This is largely due to investment, which, in the fourth quarter of last year, increased by a record-breaking 25 per cent (excluding planes). Though such a spurt of growth comes off the back of a particularly low base, the growth level is still unexpectedly high.
Goodbody claims that investment levels are likely to continue to grow, along with an ongoing recovery in the property market.
Employment growth has also been impressive, it added, with employment expected to grow by 2.5 per cent in 2014.
