Recession will end ‘in first three months of 2010’

THE recession will officially end in the first three months of next year with economic growth reaching 4% as early as 2011, according to one of the country’s leading stockbroking firms.

Echoing the bullish predictions by Davy Stockbrokers, separate analysis from the Government’s economic think tank, the ESRI, suggested a quicker than expected economic recovery could emerge in 2011 or by 2012 at the latest

In the Davy report, the company’s chief economist Rossa White predicted that while economic growth would average 0.5% next year, construction activity would continue to shrink until 2011 and unemployment would peak at around 14% towards the end of next year.