|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
27th of June 2011
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Ireland’s economy grows in Q1

Bookmark and Share

by Kay Mitchell
”Ireland’s

Figures today have revealed Ireland’s economy returned to growth in the January to March period, following a 1.4% contraction in the final quarter of last year.

According to the Central Statistics Office, the economy grew by 1.3%, partly attributed to net exports, which grew 20% on an annual basis.

However, consumer demand continues to be weak, falling by 1.9% in the quarter – the worst in two years.

Furthermore, the construction sector suffered a sharp fall, contracting by 19% on an annual basis.

However, the latest figures will be regarded as encouraging for the former “Celtic Tiger” economy which suffered a prolonged recession and was one of the last euro zone nations to emerge from recession.

The economy slipped into recession during the first half of 2008 – becoming the first nation of the euro zone to do so.

The country’s economic turmoil resulted in a bailout package last year worth €85 billion.

Meanwhile, Fergal O’Brien of the Irish Business and Employers Confederation (Ibec) said: “If Irish consumers start spending again, a solid period of economic growth could quickly emerge.”

Discuss this in the Finance Markets forums

Story link: Ireland’s economy grows in Q1



News posted: June 23, 2011

Financial Services:





Related financial stories to: Ireland’s economy grows in Q1:
Previous: «
Next: »

Visited 332 times, 31 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , , , , , , ,

 

Economy News feed Economy News

All Financial News feed All Financial News