DUBLIN Jan 29 Ireland's central bank raised its
forecast for 2012 economic growth on Tuesday after better than
expected retail sales data, but it warned the economy may expand
slower than previously expected this year.
The central bank expects Ireland's gross domestic product to
grow by 0.7 percent in 2012, when results are published in
March, up from its last forecast of 0.5 percent, according to
its latest quarterly bulletin.
It cut its forecast for 2013 to 1.3 percent from 1.7
"With growth in key trading partner countries projected to
slow this year, weaker external demand is set to dampen Irish
export growth in 2013 as compared to earlier expectations, while
domestic demand is forecast to continue along its slow path
towards stabilisation," the central bank bulletin said.