Merrion Stockbrokers, which provides security brokerage services in Ireland, predicted Tuesday that the Irish economy will top the euro zone GDP growth table once again in 2015.

"The Irish economy posted robust growth of 4.8 percent in 2014 and 2015 is set to be another very positive year, topping the euro zone GDP growth table once again," the firm said in its Irish Quarterly Economic Outlook.

Last year, Ireland had the fastest growing economy in both the euro zone and the European Union (EU).

In the report, the stockbroker left its GDP growth forecast for the year unchanged at 4.2 percent.

However, it said that based on the monthly indicators, Ireland's GDP growth could be "higher than our current projection and closer to 5 percent than 4 percent."

The firm said Ireland has benefited "from its close trading ties with the United States and the United Kingdom, two of the strongest performers on the world stage in the past twelve months."

"Competitiveness gains made against the rest of the euro zone in recent years have also helped," it said.

"But the most encouraging aspect is the pick-up in domestic demand, which augurs well for 2015. The sharp fall in the euro will be a huge plus for Ireland too," it added. Endit

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