Ireland

The Celtic tiger continues to roar, albeit at a more sustainable pitch. According to the OECD's latest country report, the Irish economy grew by a remarkable 11% in 2000. Cyclical strength in other industrial economies, strong demand for information and communication technology, and a weak euro all buoyed the emerald isle's fortunes. This year, the OECD reckons that Ireland's GDP growth will slow to less than 8%. That pace is close to the group's estimate for a sustainable rate of growth, but still almost four times the OECD's average. Exports are likely to contract this year, as OECD economies weaken and demand for information-technology products falls. Decreased exports will lead to a cut in business investment. The OECD predicts that the scarcity of labour will also reduce the scope for growth, as unemployment falls below 4%.