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Expected growth falls

THE European Commission has revised downwards its predictions for Irish economic growth for this year and next, mainly due to weaker than expected exports and domestic demand.

In its latest autumn forecast, the commission predicts that the economy – as measured by GDP – is expected to grow by 0.3pc this year, 1.7pc in 2014 and 2.5pc in 2015.

Although this compares with earlier forecasts of 1.1pc for 2013 and 2.2pc for 2014, it did note economic growth is stabilising.