Cowen denies country is in 'double-dip' recession

Cowen denies country is in 'double-dip' recession

The Taoiseach Brian Cowen has rejected suggestions that Ireland is slipping back into recession, despite new figures out today which show the economy contracted again in the second quarter of the year.

After technically emerging from recession during the first three months of this year, new figures from the Central Statistics Office show an economic contraction of 1.2% in April, May and June.

Speaking at the National Ploughing Championships in Kildare, Brian Cowen said the figures were disappointing, and said he would like to see an increase in consumer spending for the remainder of the year.

But he denied the country is on the verge of a "double dip" recession.


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