Ireland set for one more year of recession
IRELAND will emerge from recession in 2012, after four straight years of economic contraction, a report from Ernst and Young claimed yesterday.
The Republic’s economy will shrink by 2.3 per cent this year, worse than previous forecasts, the report said.
The recovery is expected to begin with 1.1 per cent growth next year and 2.2 per cent growth in 2013.
While exports from Ireland continue to boom in response to global demand, domestic activity remains weak, the report noted.