CSO: Economy moves back into recession

CSO: Economy moves back into recession

The Irish economy went back into recession in the second half of last year, according to the Central Statistics Office.

The CSO released the National Accounts for 2011 and they said the economy shrank by 0.2% between October and December, marking the second consecutive quarter of decline, which indicates a recession.

However, for 2011 as a whole the economy grew by 0.7%.

It is the first time in four years that the economy has shown growth, but GNP, which excludes multin-national companies, fell by 2.5% in 2011.

The report shows that industries that exclude the Building and Construction sector grew by 4.5% while Agriculture, Forestry and Fishing increased by 2% between 2010 and 2011.

Exports performed strongly in 2011, while imports declined slightly so that there was an overall increase of €7.2bn in net exports.

More in this Section

Dublin and Cork to pilot late-night cultural events schemeDublin and Cork to pilot late-night cultural events scheme

Senior garda appointed to investigation into street attack on Muslim girlSenior garda appointed to investigation into street attack on Muslim girl

Beef industry talks conclude with some agreement but price still an issueBeef industry talks conclude with some agreement but price still an issue

More than €400,000 recovered in ATM theft investigationMore than €400,000 recovered in ATM theft investigation


Lifestyle

Triathlete Carolyn Hayes is flat out. Since October 2018, she’s literally been racing around the world.On the treble: Triathlete Carolyn Hayes goes flat out to win a place in the Olympics

Children starting or going back to school is a reminder of how we all need an energy boost when sitting at a desk for hours, no matter what our age.Energy fix: Top 8 snacks for children

A sommelier shares her top tips.The dos and don’ts of serving wine – you just might have been doing it all wrong

It’s that time of year again; the long summer days are numbered, summer’s lease is all too short as she takes her last few breaths.Learning Points: Top tips on coping with back to school stress for you and the kids

More From The Irish Examiner