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Fastest growing economy in Europe

Surprised ! Don’t be, it's true .

  • Ireland will be the fastest growing economy in the European Union this year, according to the European Commission's autumn economic forecast. 
  • The Irish growth rate is expected to be 4.6%, compared to an EU average of 1.3% and a euro zone average of 0.8%. 
  • It is also in line with the most recent Government forecasts of 4.7% for 2014 and 3.9% for 2015.

The surge in growth has taken EU officials by surprise, since the Commission's spring forecast predicted a growth rate of just 1.7%. "Ireland is decoupling from the euro area, as its recovery broadens and gathers firm momentum. This robust and faster-than-expected expansion should bolster government revenues and facilitate a reduction of the deficit," the Commission said in its autumn forecast.