Slowdown begins to hit economy

The economy is showing signs of a slowdown, according to half-year returns, with tax revenue much weaker in the first six months of this year than originally forecast.

The foot and mouth crisis and a fall in excise duties are also being seen as partly behind the drop.

Department of Finance spokesman Donal McNally said the slowdown had been well signalled and added that while Ireland had a tremendous year in 2000, it was impossible to sustain this growth indefinitely.