Tags: Roubini | Irish | Economy | dip

Nouriel Roubini Says Irish Economy ‘Clearly Double-Dipping’

Thursday, 05 Jan 2012 12:01 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

New York University Professor Nouriel Roubini said Ireland’s economy is “clearly double-dipping” after a report today showed the country’s services sector contracted in December for the first time in 2011.

He made the comment on social networking site Twitter.

Services activity fell to 48.4 last month from 52.7 in November, the first decline in 2011, Dublin-based NCB Stockbrokers said in a report today. Domestic demand remains “extremely weak,” NCB said.

Ireland's economy shrank at the fastest pace in two years in the third quarter of 2011 as cooling global demand dented the country's hopes of an export-led recovery. Last month, Finance Minister Michael Noonan cut growth projections for the economy in 2012 to 1.3 percent from 1.6 percent, as the euro-region debt crisis escalated.


© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

House GOP Leaders Solidify Positions in Drama-Free Spell

Thursday, 18 Sep 2014 09:33 AM

The House GOP leaders have strengthened their positions and are no longer constantly looking over their shoulders to see . . .

Top Democrats Stepping Away From Wasserman Schultz

Thursday, 18 Sep 2014 09:13 AM

Democratic National Committee Chairwoman Debbie Wasserman Schultz is losing support from the White House, congressional  . . .

McConnell Ad Puts Alison Grimes in Crosshairs

Thursday, 18 Sep 2014 08:37 AM

Senate Minority Leader Mitch McConnell is firing back at his Democratic challenger, Kentucky Secretary of State Alison L . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved