Archives for Economy

Irish Business News / IrishBiz – Prolonged Coronavirus Outbreak Could Place the Irish Republic in to a Recession…

A prolonged outbreak of coronavirus in the Republic could push the economy into recession, the Economic and Social Research Institute (ESRI) has warned. The think tank said the economy could shrink for the first time since the financial crisis if the country remained on lockdown for an extended period. The institute’s Kieran McQuinn said that if the outbreak can be contained to a single quarter and “if by June/July things are returning to normal then the Irish economy should still register positive growth this year”. However, if the issue and particularly the “lockdown” goes beyond that period “we’re looking at
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European Business News / EuropeanBiz – Latest European Economic News After Coronavirus Impact…

Europe’s economy was meant to have a decent year in 2020. Factory production in the 19-country eurozone rose strongly in January, after a tentative truce in the US-China trade war. Consumer confidence was strong. Housebuilders’ order books were full. The stage was set for a solid, albeit unspectacular year. The European economy would see “steady and moderate growth”, predicted the European commission’s economic forecast on 13 February. It also warned of clouds on the horizon, including a new virus. Noting mounting concern about coronavirus, as well as “downside” risks, the Brussels forecast concluded the outbreak would peak in the first three
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