STOCK MARKET WATCH -- Friday, 5 October 2012

[xchrom]

34. Central Bank revises forecasts lower {ireland}

http://www.irishtimes.com/newspaper/breaking/2012/1005/breaking22.html

Ireland’s economic growth will slow this year, the Central Bank said, as it slightly revised down its earlier forecasts.

The bank suggested the Government could accelerate the pace of its austerity programme to eliminate the uncertainty that has plagued the economy.

"Without increasing the overall scale of fiscal correction, there is a case for getting the adjustment over more quickly," the report said. "This would shorten the already lengthy period of uncertainty which has been bad in itself and has doubtless slowed investment and other spending plans."

In its bulletin for the fourth quarter of the year, the bank said real gross domestic product would grow by 0.5 per cent, lower than the 0.7 per cent predicted in the third quarter.