Economy faces tough challenge
The Irish economy will outperform its European partners this year, but with the global economic environment remaining week, the chances of a decent increase in growth are slim, says Geraldine Concagh
Having expanded at an average annual rate of 8.5% in the 1993-2000 period, the Republic of Ireland experienced a sharp deceleration in the rate of economic growth over the course of 2001. Although GDP growth averaged 5.7% for the year as a whole, the rate growth slowed from 11.3% (year-on-year) in Q1 to just 1.1% by Q4.
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