IL&P issues positive economic outlook

Irish Life and Permanent has joined a growing number of experts saying Ireland's economy has begun to emerge from recession.

It has issued an interim management statement this morning, ahead of their Annual General Meeting in Dublin.

It pointed out that the number unemployed fell in two of the last three months, retail sales increased in February and March, and a key construction index has hit a two-and-a-half-year high.

The action taken in addressing the fiscal deficit, together with the gains in competitiveness, will support the return of sustained economic growth.

It also supported Government action to correct the economic downturn.

"The action taken in addressing the fiscal deficit, together with the gains in competitiveness, will support the return of sustained economic growth," a statement from the firm said.