Brendan Keenan: Christmas shopping forces rethink on economic trend
HERE'S a confident prediction. This year will be better than the current forecasts suggest. Or worse.
The most unlikely scenario is that it will turn out pretty much like last year: growth of less than 1pc and another, albeit smaller, reduction in personal spending.
This is the general consensus, with very narrow differences between optimists and pessimists. The optimists are led by the Department of Finance in the Budget (the ESRI is also in this camp) with a forecast that output (GDP) will grow by 1.5pc and national income (GNP) by 0.9pc.