BMI View: With domestic GDP growth of -0.3% forecast in 2013 and external markets set to remain in the doldrums, BMI sees little grounds for optimism in the year ahead, although a slow recovery is expected from 2014. In the medium-term, the sector will struggle to recover fully from the precipitous decline in the aftermath of the 2008 financial crisis. With the eurozone sovereign debt crisis weighing heavily on the sector and undermining growth in both external and domestic markets, BMI does not envisage any rapid return to pre-crisis levels of output in the near future. Modest growth in the …
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