Friday 9 December 2016

Some signs of softness, but recovery continues apace

Published 06/03/2016 | 02:30

Spending in retail outlets accounts for just under half of all private spending on consumer items. (Stock picture)
Spending in retail outlets accounts for just under half of all private spending on consumer items. (Stock picture)

Last week brought a blizzard of new information on the state of the economy. In a week in which a new era of Irish politics began - one which has the potential to derail the recovery - it is more than timely to look at what the latest indicators say about the state of the recovery.

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On Monday morning, all eyes were on the government bond market to see how investors would react to an election result that produced even more fragmentation than expected, thereby reducing the chance of stable government, at least in the short term.

Remarkably, bond investors hardly batted an eyelid in response. Nor, as the week progressed and the result sank in, did traders change their pre-election assessment of the risk profile of the Irish sovereign.

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