Global dip a threat to our recovery
The second-quarter economic growth statistics, published by the CSO yesterday, represent the best piece of news about the Irish economy in a long time. After almost four years of contraction, it is finally growing once again.
While quarterly figures are volatile and subject to later revision, the worst does seem to be behind us.
The latest figures, which cover the period from April to June of this year, follow on from the economic growth recorded in the first quarter of 2011. This marks the first time that the Irish economy has recorded two consecutive quarters of growth since the third quarter of 2006.