Recovery in our key markets spells good news

Export growth slowed sharply in 2012 and the early part of this year, reflecting, in part, a marked slowdown in the pace of activity in two of our main export markets, the UK and the eurozone.

As a result, the recovery in the Irish economy lost considerable momentum over this period.

The good news is that economic conditions in Europe are showing signs of improvement. This is most obvious in the UK, where growth has picked up in the first half of the year, after the economy largely stagnated over the course of 2012.