Very Informative Economic Overview
>> Thursday, March 21, 2013 –
economic overview,
economic recovery
- This morning showed that the economy recorded a full year of growth in 2012 of 0.9 per cent
- The Irish Economy returned to growth in 2011 and, as forecast, the Economy has grown for a second successive year in 201 2 and will continue to grow this year
- It is clear that the Government’s plan is working and we are making real progress in restoring growth to the Irish economy
- This is in line with the Department of Finance’s Budget Day forecast of 0.9 per cent for the year as a whole.
- GNP grew by 3.4 per cent, but this variable can be particularly volatile.
- Today’s numbers show that export-led growth is continuing
- Crucially, the numbers confirm that the domestic economy stabilised in the second half of last year - Private consumption stayed positive (+0.2 per cent) in y-o-y terms for the second quarter in a row.
- These must be viewed in conjunction with labour market developments. Employment grew for two successive quarters at the end of 2012. Unemployment, although high, is showing signs of falling.
- We are taking steps to repair and boost the economy sector by sector and we have put in place a comprehensive strategy to create 100,000 net jobs by 2015 through the Action Plans for Jobs
- The Department of Finance will issue revised fiscal and economic forecasts as part of the Stability Programme Update in April.
CLICK HERE to see the full overview - well worth it.
