Monday 25 September 2017

Emmet Oliver: Noonan would love us to spend way out of recession

IT IS a recovery, but not as we know it. News that the Irish economy has resumed growth for the first time in three years will surprise many, apart from maybe a small band of statisticians and economists.

Growth, however anaemic, is good news. But usually when economies recover from the kind of deep recession Ireland has been through, they bounce back very vigorously, by say between 3pc and 4pc.

Incomes start to rise, retail sales jump and the housing market gets fresh impetus, but this recession is different and consumers will feel like the recession is still lingering even after growth has technically resumed.

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