Ireland Officially Exits Recession

The Irish Republic’s economy has emerged from recession, according to official figures.

The economy grew by 0.4% in the second quarter of the year, although this was much weaker than many economists had forecast.

Economists had expected growth of at least 0.8%.

Ireland, which was bailed out after its banking and property crisis, has suffered a number of recessions in recent years.

The government has projected growth of 1.3% for 2013 as a whole.

While the bailed-out eurozone member’s exports increased by 4.3% in the quarter, consumer spending was up by only 0.7%.

A different measure of the economy, GNP, which is taken as a more accurate figure by some economists, fell by 0.4% in the three months from April to June.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza