InstaForex InstaForex
Caricatures
Ireland posts highest pace of growth in Europe
Ireland posts highest pace of growth in Europe

The Irish economy registered the highest growth rate among other European countries. Reportedly, last year the country’s gross domestic product increased by 5.2% in annual terms; while in the fourth quarter of 2016 the economy expanded by 2.5% on a quarterly basis. Such tremendous results promoted Ireland to take the lead.

Meanwhile, Ireland was one of the five EU countries that received a bailout in the debt crisis. In late 2013, the International Monetary Fund and the European Union provided loans to Ireland after its government failed to implement the three-year budget cut program. Those loans were put to good use, and a year later the Irish economy rebounded strongly. Since then, Ireland has been maintaining a robust pace of GDP growth. Other components of the economic health are also positive. For example, the unemployment level decreased to 6.7% in December from 8.5% in January last year.

However, the country faces new downside risks: the Brexit can put its economy under pressure. Ireland tends to be affected by negative impact of the UK’s exit from the European Union, as Irish farmers export most of their products to the United Kingdom. Additionally, the fourth part of the total exports to Europe is destined for the Brits. So, Ireland’s economy is likely to meet more challenges.

Published: 2017-03-20 15:26:00 UTC
Back to caricatures
Share

Prime news
21 Jul 2017, 02:25 UTC+00
Microsoft posted a solid fourth-quarter earnings with the support of its fast-expanding cloud computing business, increasing optimism that the once-failing company has found its new momentum. The results were the clearest indication yet that the strategy implemented by CEO Satya Nadella is beginning to deliver results. He has also changed the company's focus away from a...
21 Jul 2017, 02:22 UTC+00
European Central Bank Mario Draghi tempered market expectations during his speech. But the initially dovish message by the euro area central bank was quickly overshadowed by talks of the inflation rate and an end to asset purchases. The ECB held interest rates steady and left the asset purchases unchanged on Thursday, amid increasing speculation that it will begin to...
21 Jul 2017, 01:41 UTC+00
U.S. equities finished narrowly mixed near record levels on Thursday as earnings season remains in progress. Uncertainty was renewed regarding the Trump administration's ability to implement its pro-growth proposals. The three major indexes reached session lows on the report before rising back. The Dow Jones industrial average dropped 0.13 percent to 21,611.78....
21 Jul 2017, 00:48 UTC+00
European stocks dropped as investors claim exporters will suffer due to a stronger euro, following European Central Bank President Mario Draghi's remarks which buoyed the common currency. The pan-European Stoxx 600 Index closed 0.4 percent lower. The benchmark trimmed a gain that hit 0.5 percent prior to when Draghi said officials will discuss altering the ECB's...
20 Jul 2017, 04:58 UTC+00
The German economy is doing well and is set for strong growth in spite of external risks like the uncertain outcome of Brexit talks and U.S. President Donald Trump's future trade policies, according to the German Finance Ministry. Germany's gross domestic product likely grew in the second quarter by a similar rate as in the previous quarter when the economy expanded by...
20 Jul 2017, 04:12 UTC+00
Gold prices were steady early on Thursday, as the dollar firmed while markets await for clues on the stimulus programmes in the upcoming Japan and European Central Bank meetings. Spot gold was nearly flat at $1,240.07 an ounce. U.S. gold futures for August delivery dropped 0.19 percent to $1,239.60 an ounce. Expectations that U.S. monetary policy its on a...
20 Jul 2017, 03:49 UTC+00
The euro was near a 14-month peak versus the dollar earlier on Thursday, with investors counting on signs from the European Central Bank regarding the tapering of its stimulus. The yen prepared for news from the Bank of Japan's policy meeting. The ECB is set to lay the groundwork for an autumn policy shift when it meets on Thursday, highlighting improved growth while...
20 Jul 2017, 02:47 UTC+00
Crude prices held steady after solid gains in the previous day when the declining U.S. fuel stocks bolstered the market. But the international benchmark for oil prices, the Brent, continued to be below the key $50-per-barrel threshold on worries regarding high supplies from producer cartel OPEC regardless of a deal to slash output in an attempt to rebalance the market....
20 Jul 2017, 02:43 UTC+00
Japan's export grew for the seventh month in a row in June led by increased shipments of automobiles and electronics, a signal that demand overseas continues to be the backbone of a gradual economic recovery and supports the Bank of Japan's optimistic economic outlook. According to data from the Ministry of Finance, exports grew at an annual rate of 9.7 percent in June,...
20 Jul 2017, 02:03 UTC+00
U.S. equities finished at record peaks on Wednesday as investors priced in key quarterly earnings. The Dow Jones industrial average ended at a record peak, climbing 0.31 percent to 21,640.75. The Nasdaq composite gained 0.64 percent to finish at a record high of 6,385.04, also touching an intraday all-time peak. The S&P 500 advanced 0.54 percent at 2,473.83,...
20 Jul 2017, 01:48 UTC+00
Yields on U.S. government bonds were mostly flat as investors and traders took a see-and-wait stance for the European Central Bank policy meeting which could possibly mark the end of the ECB's bond-repurchasing program and pile into concerns that the unwinding of its ultra-loose monetary policy could hurt the market for government paper. The yield on the 10-year...
20 Jul 2017, 01:44 UTC+00
A batch of strong updates from European companies helped the region's benchmark index to rise on Wednesday, as tech stocks faced their best day in ten months and all sectors produced gains. The pan-European STOXX 600 index advanced 0.7 percent while blue chips rose 0.6 percent. Technology stocks gained 2.2 percent in their best daily performance, since September...
20 Jul 2017, 01:28 UTC+00
Qualcomm Inc. projected a steep drop in profit and licensing sales for the fourth as the firm's patent battle with tech giant Apple Inc. continues to affect its licensing unit. The world's biggest chipmaker sees profit falling by as much as 47 percent in the current period to clock in as little as $1 billion. This is seen to weigh on overall revenue by as much as 13...
20 Jul 2017, 01:25 UTC+00
American Express Co.'s second quarter profit fell 33 percent, partially hit by the higher expenses, as the card company heavily invested in rewards to entice customers amid strong competition from big U.S. lenders. Shares of the company fell 1.2 percent to trade at $84.87 in extended trading. So far this year, the stock is up 16 percent. AmEx has increased...
19 Jul 2017, 03:21 UTC+00
Crude prices edged down after a reported increase in U.S. fuel stockpiles and still elevated inventories from producer cartel OPEC reawakened worries regarding a supply glut in the global market. Brent crude futures stood at $48.73 per barrel, falling by 11 cents or 0.2 percent from their last settlement. Meanwhile, U.S. WTI crude futures were at $46.28 per barrel,...
19 Jul 2017, 02:55 UTC+00
Yields on Treasury notes sharply dropped as investors flocked to the government paper market, driving down the yield on the benchmark 10-year Treasury note to its lowest level in a month amid persisting skepticism regarding U.S. President Donald Trump's pro-growth policy manifesto. The yield on the 10-year note fell by 4.6 basis point to 2.263 percent, marking its...
19 Jul 2017, 02:54 UTC+00
Gold prices were steady early on Wednesday after touching their highest in more than two weeks in the session earlier, supported by the dollar's weakness as it wavers near ten-month lows.Spot gold rose around 0.1 percent at $1,242.86 an ounce. In the session earlier, it touched its highest since June 30 at $1,244.56.U.S. gold futures for August delivery were...
19 Jul 2017, 02:52 UTC+00
China increased its holdings of U.S. Treasuries for the fourth month in a row, an indication that the country is rebuilding its forex reserves as the yuan finds its footing.Ranked as the second-biggest holder of Treasuries, China held $1.10 trillion in May, marking a $10 billion increase from the previous month, according to the latest Treasury Department data...
19 Jul 2017, 02:34 UTC+00
The dollar was on the defensive on Wednesday after tumbling to a 10-month low against a currency basket as Republican failure to proceed with a stalled U.S. healthcare bill raised fears regarding the rest of President Donald Trump's economic agenda. Efforts of Republicans to overhaul or repeal Obamacare in the U.S. Senate has jolted financial markets and fueled doubts...
19 Jul 2017, 02:26 UTC+00
Goldman Sachs Group Inc.'s once-strong performing bond-trading business reported a weak result for the second consecutive quarter, triggering a selloff in the firm's shares and increasing skepticism regarding the bank's strategy. Goldman reported a 40 percent drop in its fixed-income trading business that puts it behind other major U.S. banks that released their...
19 Jul 2017, 02:22 UTC+00
Bitcoin reversed its losses as miners started using new software that has solved its scaling problem, an issue that has persisted for over two years and has divided parties in the cryptocurrency. The first party of the debate are miners who launch expensive computers to verify transactions and provide support for the blockchain. The second are developers called the core...
All prime news
Start trading with
no risks and investments
With new Start-Up Bonus of $2500