Home > Economy > Gradual Irish economic recovery has begun says Finance Minster

Gradual Irish economic recovery has begun says Finance Minster

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

article headline

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

More articles from Economy

image Description

Ireland was fastest growing economy in Europe in 2022

Read more
image Description

Irish consumer sentiment is down while business sentiment is up

Read more
image Description

Irish business growth slowing as rising costs pile on the pressure

Read more
image Description

Inflation is the number one concern amongst Irish consumers

Read more
image Description

Strong tax revenues create opportunities for Budget 2023

Read more