Ireland out of recession, but not in the clear by a long shot

The headlines announcing our long-awaited exit from recession, were simple; the reality, however, is a little more complicated, writes Cliff Taylor.

21st September, 2013
Michael Noonan, Minister for Finance, will be hoping for a GDP growth forecast for 2014 of close to 2 per cent. Photo: Tony O'Shea

More an economy crawling from the wreckage than one yet actually in a recovery. At least that was the message from the second quarter GDP figures published last Thursday. The headline was simple. The economy was "out of recession." But here is the crux. In a normal economic cycle, recovery follows recession as confidence returns. The Irish economy right now is far from normal, so we still have to see if the recovery can, in...

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