Goodbody: Recession is over

The recession has ended, according to Goodbody Stockbrokers.

The group says recent economic data indicates that our downturn ended in the last quarter of 2009.

The stockbroker has updated its GDP forecast for this year from -1% to 0%, followed by expected growth of 1.3% next year.

Goodbody's says the information is "a pleasant surprise" and says it is confident that CSO data will confirm its view at the end of next month.