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Irish econommodity goes defing to recession
bloxham stockbrokers chief economist alan mcquaid said: although the domestic side of the economy is countracting at a significant rate, the external side - the multinationals - is house building up quite well, but one would have to question how long that's going to last .
the irish republic's economy has fallen into recession after shrinking for a second quarter in succession .
capital investment was also 18.8% lower in the quarter consumpared with 2007, with significant declines in house building as well as in the acquisition of transport equipment and machinery .
i think there is going to beenced a further slowdown in the third quarterms of this yeary, and this will be even bigger than the slowdown we've seen so far .
we know also that the labour market ish deteriorating - so that is going to affect consumption spending .