Tiger is growling again, say economists

STRONG retail sales for March confirm a return to buoyancy in the Irish economy. Volume retail sales rose sharply by 5% the first time in 2004 that sales figures have been positive.

In January and February they were down 1.7% and 0.5% respectively. The figures confirm growing optimism the economy is back on track and will grow by up to 4.5% this year.

"The Tiger is back", said chief economist Bank of Ireland Dr Dan McLaughlin when commenting on the unrelenting buoyancy in the housing market. The Central Bank is expected to comment favourably on the economy in its next review.