Economy costs fall at ‘impressive’ rate

COSTS in the Irish economy are falling at an impressive pace and the trend is set to continue, according to a new report.

Goodbody Stockbrokers said Ireland is now pricing itself back into sectors such as IT and manufacturing as a result.

Unit labour costs have fallen by 9%, relative to the rest of the eurozone, in the 2009/2010 period and are expected to decline by a further 4% in 2011/2012, yielding “tangible benefits” for the Irish economy.