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GDP to grow 3.1pc - forecast

Ulster Bank has rowed in behind other predictions that Ireland's economy is on track to grow by over 3pc this year.

Releasing its forecast, Ulster Bank said it expects the country's gross domestic product (GDP) to rise by 3.1pc in 2014 as the recovery becomes "more broadly based".

It said that this year will mark the first since 2007 that exports, consumer spending, and investment will all be growing together.

The bank said that's an important sign that Ireland's economic recovery is looking "more sustainable".

Ulster Bank had previously predicted that Ireland's GDP would grow by 2pc this year. Its revised prediction puts it on the same page as other forecasts released this month. It's also expecting the economy to grow by 3.2pc in 2015.