Friday, March 23, 2012

Republic of Ireland falls back into recession in 4Q 2011-BBC

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3/22/12, "Republic of Ireland falls back into recession," BBC

"The Republic of Ireland fell back into recession in the last three months of 2011, official figures have shown.

Its economy shrank by 0.2% from October to December, following a contraction of 1.1% in the third quarter.

The data from the Central Statistics Office showed that the weakness in the global economy had hit Irish exports, while its domestic consumer spending had continued to recover.

The country needed an international bailout in 2010.

While consumer spending in Ireland rose by 0.5% in the fourth quarter of 2011, exports fell by 1.1%."

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