Ireland exits slump as GDP recovers
By Shawn Pogatchnik |
July 1, 2010, Thursday
|
Print Edition
Print Edition
IRELAND has resumed growth following eight straight quarters of sharp declines, but the domestic side of the economy is still declining and unemployment keeps rising, the Central Statistics Office said yesterday.
The agency said Ireland's gross domestic product grew 2.7 percent in the first quarter of 2010. It was the first rise in the GDP since the last quarter of 2007, when Ireland's economy began to dip on a bursting bubble in building and property speculation.
People claiming jobless benefits hit a new high of 452,882, up 3.4 percent from May, the agency said.
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