Bloxham expert says worst of slump is over as output decline slows

ONE of the country’s leading economists says Ireland has seen off the worst of the economic slump.

Having fallen by 7% in GDP terms in 2009, this year the decline in output will be less than 1%, a figure that is in line with other forecasts.

But chief economist with Bloxham Stockbrokers Alan McQuaid warns prices and wages need to adjust further downward to make the economy more competitive and ensure we pull out of the worst slump in living memory,