Republic’s recovery predicted to start in 2011

THE economy is in the grip of a depression having fallen by more than 10% from its peak during the current slump.

A new all-Ireland report says the Republic will recover faster than Northern Ireland, driven by its strong infrastructure and its solid export-led services. Recovery should start in 2011, the Ernst & Young report stated.

In the meantime, unemployment will rise by 250,000 with the Republic accounting for 230,000 of that figure over the three- year period to end 2010.