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Gradual Irish economic recovery has begun says Finance Minster

Written by Business World, on 5th Jun 2020. Posted in Economy

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Up-to-date economic data suggests Ireland is now past the low point of the economic crisis forced by the coronavirus lockdown of its economy, and a gradual recovery is setting in, Finance Minister Paschal Donohoe said on Friday.

Donohoe said it was not surprising that data on Friday showed the domestic economy grew at a subdued pace in the first quarter ahead of what he called an "unprecedented contraction" in nearly all sectors likely to be registered in the second quarter.

"However, incoming data including ultra-high-frequency data suggest that we are now past the low point and a gradual recovery is now setting in as restrictions are gradually being relaxed," he said in a statement. (Reuters)

Source: www.businessworld.ie

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