"Now even Ireland's 'basket case' economy pulls out of recession!" - The Daily Mail

Dec. 17, 2009 - PRLog -- Ireland is on its way out of the recession, that this appears hard to believe this could be a good sign as it could mean that things have bottomed out, however if playing the waiting game isn't an option for you then Life Lasting Success could be an option.

Heres where we're at -

"Britain remains in a recession in this third quarter - one of the few countries left in the EU whose economy is still lagging behind.
Britain remains in a recession during the third quarter of 2009 - despite most of Europe's economies seemingly recovering
Last month European Commission figures showed that the eurozone economy emerged from recession in the third quarter of this year.
The 16 nations that use the euro collectively grew 0.4 per cent between July and September after shrinking by 0.2 per cent between April and June.
The growth ended a run of five quarters of falling output in the bloc.
The French and German economies both grew for a second consecutive quarter and Italy showed growth for the first time in more than a year.
The figures leave Spain, reeling from a collapse of its property market, as the only major economy using the euro to be still in recession.

The UK economy, Europe's second largest, has now contracted for six consecutive quarters, the first time this has happened since quarterly records began in 1955.
UK output contracted by 0.4 per cent between July and September.
Ireland's gross domestic product grew 0.3 per cent in the third quarter, higher than economists' forecasts of a 0.1 per cent increase and a revised decline of 0.6 per cent in April to June.

'Clearly we shouldn't overstate. It is good news that GDP is growing rather than falling, but we still have to remain cautious because of the volatility,' Eoin Fahy, chief economist at KBC Asset Management said.
Year-on-year, Ireland's GDP fell 7.4 per cent for the quarter, just behind Dublin's forecast of a 7.5 per cent contraction for the full year.
In May, the EU said Britain would remain in recession for the first half of 2010, with 'slight positive growth' not returning until late next year.

Overall, the commission said, growth for the year would register just 0.1 per cent.

It also predicted that mass unemployment would return to Britain, with almost one in ten people out of work. That would mean more than three million unemployed.
If correct, the gloomy forecast would mean Labour going into a general election with no sign of economic growth returning to the economy.

Ministers are pinning hopes of a political recovery on being able to point to green shoots by next May, when Gordon Brown is expected to go to the country.

In April's Budget, the Chancellor confidently claimed the recession would end this year - with 1.25 per cent growth in 2010 and a startling 3.5 per cent in 2011.
Even under that scenario, branded 'dishonest' by the Tories and the Lib Dems, it will take until 2018 before the public finances are brought back into balance.

The EU forecast said there was a strong 'likelihood that economic activity in 2010 will be weaker than envisaged by the UK authorities'.

Dublin expects GDP to contract 1.3 per cent in 2010, slightly more pessimistic than the most recent Reuters poll showing economists forecasting a 1.1 per cent fall in GDP next year.

However, one economist said the bigger than expected fall in Gross National Product (GNP) together with a downward revision to the previous quarter's figure showed that the domestic economy remained extremely weak.

GNP, which is seen as a more accurate measure of domestic performance because it excludes multinational profits, contracted 1.4 per cent in the third quarter from the preceding quarter. GNP had been expected to fall 0.35 per cent on a quarterly basis.
The April to June figure was revised to minus 1.7 per cent from a provisional mark of minus 0.5 per cent.

'The domestic part of the economy is extremely weak, despite the fact the GDP is positive', said Brian Devine, economist at NCD said.

'The GNP figure is probably the most important figure for Ireland, and the downward revision (in the previous quarter) was pretty large.'  The Daily Mail

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