Wednesday, June 30, 2010

Recession in Ireland is Over

Technically anyhow, Irish Times article attached above.

I haven't had much time to publish lately due to this bloody recession with chasing work and chasing money but at least I still have a job (for now).

I would estimate that it will be at least another 18 months before the construction industry picks up.

At least the figures today will boost market confidence and boost the service sector and people will be less frugal and perhaps consumer spending might pick up again.

This should lead to more jobs. More than likely any jobs will be re-employment ones and I can't see house building in the private sector commencing again for another 12 months at least.

Any positive news is welcome however and if this leads to job creation and an decrease in the unemployment pay role and an increase in the tax take this should have the knock on effect of stimulating public sector infrastructure spending.

More anon.