Slow growth ‘will feel like recession’

ECONOMIC growth below 1% this year will make it feel like a recession here, according to Bloxham economist Alan McQuaid, who said many economists believe Ireland is already in a recession, or in danger of slipping into one.

Most, however, are predicting it will be a brief, shallow technicality rather than a severe downturn.

Mr McQuaid, who is predicting GDP growth of 0.9% this year, believes Ireland is in a stagnation environment — a period of slow economic growth and relatively high unemployment.