Economy at risk from possible slump in house prices

IRELAND’S economy is in good health but could be at risk from a slump in house prices, weaker export markets and a US recession, according to key Government advisers.

The assessment came in a report published yesterday by the National Social and Economic Council (NESC), which said the economy was at risk from a continuing lack of competitiveness.

The report, called People, Productivity and Purpose, is one of a series of wide-ranging briefs prepared every three years by the NESC for the Department of the Taoiseach. Used to influence and inform Government policy, the report also assesses the future prospects for Irish society, as well as the environment.