Tom Healy: While quarterly national accounts data are always to be taken with caution the latest CSO data clearly indicate a return to recession - technically two quarters in a row. And total domestic demand has fallen by 26% from the peak in late 2007 to the end of 2011. We are now entering the fifth year of domestic recession. This significant 'inflection' point has been dwarfed by Mahon, Promissory Notes and other matters. Paul Krugman has a very telling chart issued a few hours after the CSO release here. A picture tells a lot.
Dr Tom Healy @TomHealyNERI
Dr Tom Healy is Director of the Nevin Economic Research Institute (NERI). He has previously worked in the Economic and Social Research Institute, the Northern Ireland Economic Research Centre, the Organisation for Economic Cooperation and Development, the National Economic and Social Forum and the Department of Education and Skills.
He holds a PhD (economics and sociology) from UCD. His research interests have included the impact of education and social capital on well-being.
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