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14/05/2009
Leading Stockbroker Says Worst Is Over
A leading firm of stockbrokers has said that the worst of the Irish recession is over.
In the latest analysis from Bloxham Stockbrokers, a company spokesman said it expects figures to show the recession 'bottomed-out' in the first quarter of this year.
It says any further contraction in the remainder of this year should not be as severe as the first quarter.
However, consumer prices are continuing to fall, with the annual rate of deflation reaching 3.5% in April, according to the latest figures from the Central Statistics Office (CSO).
The figure compares to a rate of 2.6% of deflation over the course of the year to March.
The most significant decreases in prices according to the CSO were seen in housing, water, electricity, gas and other fuels, which fell 19.1% over the year. Clothing and footwear prices tumbled by 11.9% due to sales, while transport saw prices fall 4.8%.
On a global level, Bloxham said the conditions for an economic recovery are falling into place.
(DW/BMcc)
In the latest analysis from Bloxham Stockbrokers, a company spokesman said it expects figures to show the recession 'bottomed-out' in the first quarter of this year.
It says any further contraction in the remainder of this year should not be as severe as the first quarter.
However, consumer prices are continuing to fall, with the annual rate of deflation reaching 3.5% in April, according to the latest figures from the Central Statistics Office (CSO).
The figure compares to a rate of 2.6% of deflation over the course of the year to March.
The most significant decreases in prices according to the CSO were seen in housing, water, electricity, gas and other fuels, which fell 19.1% over the year. Clothing and footwear prices tumbled by 11.9% due to sales, while transport saw prices fall 4.8%.
On a global level, Bloxham said the conditions for an economic recovery are falling into place.
(DW/BMcc)
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Unemployment To Reach 17% By 2010
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Unemployment To Reach 17% By 2010
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