April 7 represents red letter day for Ireland

WE ARE starting to get mixed signals on the health of the global economy. In the US over the past couple of weeks we have seen clear signs that the housing market may be starting to bottom out.

April 7 represents red letter day for Ireland

New and existing home sales and housing starts in the US have all surprised on the upside. Granted, all housing indicators in the US are coming off an extremely low level, so any recovery needs to be kept in perspective, but it is certainly good news that we are at last starting to see some signs of life.

It is very clear to me that the US is the key area to watch, as it led the global economy into recession and will undoubtedly lead the way out of the recession, whenever that happens.

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