The Irish economy is forecast to contract by 3.0% this year, but will return to growth of 2.0% in 2011, measured in GNP (gross national product) terms rather than GDP (gross domestic product) which isn’t adjusted for the big impact of foreign owned firms in the economy.
Related posts:
- Irish Economy: Central Bank says GNP will contract 1.5% in 2010; Recovery from H2 2010 will trigger GNP growth of 2.4% in 2011
- Irish Economy: Lenihan revises 2010 GDP growth forecast to 1% and GNP is expected to contract by 0.75%
- Irish Economy: IBEC says economy will return to growth in 2011 with GNP rising by 1.2% in 2011 and 3.4% in 2012
- World economy remains fragile despite forecast growth in 2010 of 4.8% says IMF; Irish GDP growth of -0.3% in 2010 and 2.3% in 2011
- Irish Economy: Central Bank says economy undergoing modest recovery this year; Forecasts growth of GDP and GNP in range of 2.2 to 2.8 % in 2011