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The world could be booming again by the end of 2015

This is according to UK think tank the Centre for Economic and Business Research (Cebr)

Image: Shutterstock/Sergey Mironov

THE NEW YEAR is going to see cheap consumer goods, a country leaving the Eurozone and a drop in some of the world’s most expensive housing markets.

That’s according to the Centre for Economic and Business Research (Cebr) – a leading UK economic think tank.

The body has issued its predictions for what the New Year will bring for the international economy and what it will mean for the consumer’s pocket.

Global economy 

In its predictions for the next 12 months the group has identified a number of upward economic trends that could take hold across Europe.

The first half of 2015 is given a cautious outlook, with it predicted that negative momentum could take hold – but coming into the second half of the year, things should look a lot better.

It is predicted that in the second six months cheap food, cheap petrol and falling energy bills will boost the world economy – which could lead to boom conditions by the end of the year.

House prices

The group also forecasts that there could be some stagnation or reduction in house prices internationally.

While making no specific mention of Ireland, prices are expected to fall in London and ‘most of Continental Europe’ – a prediction that could potentially spill over which is in keeping with the effect new rules on mortgages from the Central Bank are expected to have on house prices this year.

The Eurozone

Perhaps the boldest prediction made is that 2015 will be the year that sees a country leave the Eurozone – with Greece singled out as the most likely candidate.

The body predicts that what it calls a ‘Grexit’ could occur after the country’s general election which is set to take place at the start of the year.

As part of the 2015 outlook the group also speculate on the outcome of a number of sporting events – predicting that the Six Nations will be decided between Ireland and England on 1 March, and New Zealand to take the Rugby World Cup in the Autumn. 

Read: ECB warns countries to get economies in order as ‘populist parties’ are on the rise

Also: Snap elections to be held after Greece fails to elect a president

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