Daniel McConnell: Chink of light in gloomiest of outlooks from Donohoe

We may be at the start of possibly our worst ever recession, but there are some small grounds for hope, writes political editor Daniel McConnell

Department of Finance chief economist John McCarthy and Finance Minister Paschal Donohoe in Government Buildings for the publication of the Stability Programme Update 2020. Picture: Leon Farrell

We may be at the start of possibly our worst ever recession, but there are some small grounds for hope, writes Daniel McConnell

“This update is happening against the backdrop of the first global pandemic in 102 years and the result of that is the deepest recession since the Great Depression of the 1930s but it is not just the depth of it, it is the breadth of the recession,” came the assessment of John McCarthy who is the chief economist at the Department of Finance.