ireland exits recession
Last Updated : GMT 03:18:12
Arab Today, arab today
Arab Today, arab today

Ireland exits recession

Arab Today, arab today

Arab Today, arab today Ireland exits recession

Dublin - AFP

Bailed-out eurozone nation Ireland exited recession in the second quarter with economic growth of 0.4 percent thanks to solid expansion of its construction and export sectors, official data showed Thursday. Ireland fell into recession in late 2012 but returned to growth in the three months to June of this year, the Central Statistics Office (CSO) said in a statement. Ireland\'s economy had contracted during the previous three quarters, the CSO confirmed. A recession refers to two or more consecutive quarters of negative growth. \"Preliminary estimates for the second quarter of 2013 indicate that GDP increased by 0.4 percent in volume terms on a seasonally adjusted basis compared with the first quarter of 2013,\" the CSO said. However the growth rate was weaker compared with market expectations. The Irish economy shrank by 0.6 percent in the first quarter. \"Preliminary estimates for the second quarter of 2013 show that GDP rose by 0.4 percent seasonally-adjusted quarter-on-quarter, a much weaker performance than expected,\" said Alan McQuaid, economist at Merrion Stockbrokers. \"That said, the positive increase means that Ireland has technically come out of recession.\" A breakdown of the latest data showed that Ireland\'s construction sector grew by 4.2 percent in the second quarter compared with the first three months of the year. \"The real estate market has bottomed out, although it is way too early to call this a recovery,\" said ING bank economist Anthony Baert. \"Finally, with the improving economic climate in Ireland\'s most important trading partners, the eurozone, the US and the UK, prospects look good for Irish exports. Therefore, we forecast a gradual strengthening of Irish economic activity in the following quarters,\" he added. Ireland\'s economy meanwhile contracted by 1.2 percent in the second quarter compared with the equivalent period in 2012. Ireland was rescued with an 85-billion-euro ($115-billion) bailout from the International Monetary Fund and the European Union in late 2010. Its economy had been through a period of turmoil in the run-up to the 2008 global financial crisis and after, amid soaring government debt, a property market meltdown, banking crisis and surging unemployment. Thursday\'s data precede what is set to be another painful austerity budget due in a few weeks, with many commentators suggesting a return to growth may offset extra spending cuts or tax hikes. The nation\'s economy has benefited also in recent times from solid exports. Its trade surplus widened by 8.0 percent in July from June as exports grew faster than imports, recent official data showed. Ireland had been known as the \'Celtic Tiger\' economy for its double-digit growth spanning a decade from the mid-1990s.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ireland exits recession ireland exits recession

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ireland exits recession ireland exits recession

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Leaders of Russia, Iran, Turkey meet

GMT 10:12 2017 Wednesday ,22 November

Leaders of Russia, Iran, Turkey meet
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday