Economic recovery picking up momentum

IRELAND is emerging from recession, with encouraging economic signs arriving on an almost daily basis, according to Bloxhams Stockbrokers chief economist Alan McQuaid.

Total industrial output volumes are up 13.7%, while manufacturing volumes are up 15.3% for the three months from January to March 2010. The latest CSO figures also show annual jumps of 3.3% and 3.0% respectively for manufacturing and industrial outputs for the year to March 2010.

“We are over the worst, the numbers are getting better,” said Alan McQuaid. “There is a definite pick-up in the economy. Last week’s Reuters survey of Irish economists showed predictions of GDP growth of +1% for 2010, compared to a -0.6% prediction for the previous poll in March.