What quarter did the great recession start?
Lasting from December 2007 to June 2009, this economic downturn was the longest since World War II. The Great Recession began in December 2007 and ended in June 2009, which makes it the longest recession since World War II.
Was there a stock market crash in 2011?
In finance and investing, Black Monday 2011 refers to August 8, 2011, when US and global stock markets crashed following the Friday night credit rating downgrade by Standard and Poor’s of the United States sovereign debt from AAA, or “risk free”, to AA+.
What caused the stock market crash of 2011?
This was due to fears of contagion of the European sovereign debt crisis to Spain and Italy, as well as concerns over France’s current AAA rating, concerns over the slow economic growth of the United States and its credit rating being downgraded.
When will the latest macroeconomic forecast for Ireland be released?
The latest macroeconomic forecast for Ireland. The European Commission publishes a full set of macroeconomic forecasts for the EU and its Member States in spring (May) and autumn (November) and publishes interim forecasts updating GDP and inflation figures in winter (February) and summer (July).
How has the global recession affected the Irish economy?
The global recession has significantly impacted the Irish economy. Economic growth was 4.7% in 2007, but −1.7% in 2008 and −7.1% in 2009. In mid-2010, Ireland looked like it was about to exit recession following growth of 0.3% in Q4 of 2009 and 2.7% in Q1 of 2010. The government forecast a 0.3% expansion.
What happened to Ireland’s economic growth in 2015?
By mid-2013 the European Commission’s economic forecast for Ireland predicted its growth rates would return to a positive 1.1% in 2013 and 2.2% in 2014. An illusory 2015 GDP growth of 26.3% (GNP of 18.7%) was officially partially ascribed to tax inversion practices by multinationals switching doimiciles.
Is the Irish economy too dependent on the construction sector?
The construction sector, which was inherently cyclical in nature, accounted for a significant component of Ireland’s GDP. A recent downturn in residential property market sentiment has highlighted the over-exposure of the Irish economy to construction, which now presents a threat to economic growth.