Economy on track to recover -- Lenihan
FINANCE Minister Brian Lenihan last night insisted the economy had stabilised after moving from a steep decline last year.
The minister's comments came after figures showed the economy shrank in the second quarter of the year.
The Central Statistics Office said economic output fell by 1.2pc from April to June. Economic growth -- as measured by the value of all goods produced here by both domestic and multinational companies -- had increased by 2.2pc in the first quarter of the year.
Mr Lenihan admitted yesterday's figures showed the economy was not growing enough, but added they also meant the economy had moved from a very steep decline last year to a stabilised position.
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