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Ireland exits recession as economy grows

The Irish Republic's economy has emerged from recession, according to official figures.

The economy grew by 0.4% in the second quarter of the year, although this was much weaker than many economists had forecast.

Economists had expected growth of at least 0.8%.

Ireland, which was bailed out after its banking and property crisis, has suffered a number of recessions in recent years.

The government has projected growth of 1.3% for 2013 as a whole.

While the bailed-out eurozone member's exports increased by 4.3% in the quarter, consumer spending was up by only 0.7%.

A different measure of the economy, GNP, which is taken as a more accurate figure by some economists, fell by 0.4% in the three months from April to June.

This news article was taken from the BBC News website, to read the rest of the article, click here.

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