‘Economy won’t grow until 2012’

THE Irish economy, which contracted 14.5% in the last three years, will not return to growth until 2012, the Organisation for Economic Cooperation and Development (OECD) said.

In an update on the Irish economy, the OECD said a number of factors are making it difficult for the economy to get back on a sustainable growth path.

The Government has predicted growth of around 0.7%, for 2011 but the OECD has dismissed that possibility in its analysis.