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Personal consumption fell by 0.6 percent in the final quarter of 2013 (Photo: William Murphy)

Irish economy in surprise decline, threatens debt-cutting plan

Ireland's economy suffered a shock decline in the final months of 2013, posting negative growth for the year and casting a pall over the country's full return to the financial markets.

Data from the country's Central Statistics Office (CSO) on Thursday (13 March) indicated that its gross domestic product (GDP) contracted by 2.3 per ent in the fourth quarter, turning a year that had been expected to yield modest growth into a 0.3 percent recession for the year as a whole.

According...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Personal consumption fell by 0.6 percent in the final quarter of 2013 (Photo: William Murphy)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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