Headwinds & Positive Developments

CUMA Newsletter asked Austin Hughes to review the Irish economy. Austin sees both “Headwinds” ahead and some “positive developments”.

Austin writes:-

It seems likely that Irish economic growth will be only marginally positive in 2012 while unemployment looks set to remain extremely high. The Irish economy is now in the third year of a patchy and painful ‘bottoming out’ process following very sharp declines in activity and correspondingly large increases in unemployment in 2008 and 2009. The very slow and uneven nature of the turnaround in the Irish economy reflects the range and intensity of the forces acting to restrain a recovery in incomes and employment. Although near term prospects remain weak, there have also been a number of positive developments recently that suggest a progressive improvement in Irish economic conditions will take hold in coming years.

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