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Wednesday 8 February 2023 Dublin: 5°C

# Recession

Last week
29th January 2023 - 4th February 2023
# Recession
Britain will be only major economy to plunge into recession in 2023, IMF warns
The IMF predicts that the UK economy will contract by 0.6% this year, 0.9 percentage points worse than its previous forecast in October.
Last month
January 2023
Voices
The squeezed middle: What we should learn from the Great Recession of 2007-2013
By studying and learning from the effects of the Great Recession, policy makers can gain valuable insights into how to respond to the cost-of-living crisis.
Last year
2022
Voices
Analysis: Are we headed for recession? Does it matter?
Economist Victor Duggan says there’s talk of the ‘R’ word everywhere, but we might just avoid it if the many global storms settle.
# Recession
Bank of England raises interest rates to 3% in biggest single hike since 1989
The Bank warned that the UK could be on course for two years of uninterrupted recession.
# Economy
Europe risks 'deeper recessions' due to Ukraine war and inflation, says IMF
Germany and Italy are predicted to slip into recession next year
# risk of recession
'Certainly a risk' of US recession, says US Treasury Secretary
Janet Yellen added that ‘we’ve got a good strong labor market, and I believe it’s possible to maintain that.’
# US Economy
US economy shrank 0.9% last quarter for its second straight drop
The decline in the gross domestic product – the broadest gauge of the economy – followed a 1.6% annual drop from January through March.
Voices
Pearse Doherty: Workers and families facing the cost of living crisis need an emergency budget
The Sinn Féin deputy says now is the time for emergency measures to tackle rising inflation.
# Economy
Varadkar at Davos: 'We will not go into recession, but there will be a slowdown'
Leo Varadkar is attending the World Economic Forum in Davos, Switzerland today.
# rising inflation
Taoiseach can't rule out Ireland slipping into recession, calls for greater EU flexibility on VAT
‘No one can be certain about what will happen over the course of 2022,’ the Taoiseach said.
All time
# Recession
FactCheck: Was Micheál Martin right to say that the banks were not bailed out in 2008?
The Taoiseach has suggested that the bank guarantee was an investment.
# Coronavirus
UK in worst recession on record after GDP plunges 20.4% between April and June
The recession brought on by the coronavirus pandemic led to the biggest fall in quarterly GDP on record.
# downturn
Eurozone economy suffers record drop during lockdown months
The decline in Europe compares to a 9.5% quarter-on-quarter decline for the United States.
# rescue deal
Donohoe has 'little reason to doubt' Covid-19 will cause worst economic crisis since Great Depression
The Finance Minister said Ireland will likely have to access some of the financial supports made available by the EU.
# Recession
Half a billion people could be pushed into poverty by Covid-19, warns Oxfam
A new Oxfam report calls for an economic rescue plan to prevent a damaging recession.
# Recession
Central Bank says unemployment could reach 25% as government seeks to avoid 'another era of austerity'
Taoiseach Leo Varadkar has said the country is “heading into a recession”.
# Not again
No-deal Brexit could push Ireland into recession, ESRI warns
The ESRI has recommended a supplementary Budget in the new year if there’s a hard Brexit.
# IOU
Have €42,500? That's the amount of public debt hanging over the head of every person living in the State
Minister Paschal Donohoe said prudent management of the public finances in needed.
# NERI
Irish economy on the brink of overheating stoked by ongoing Brexit uncertainty
The report claims Ireland’s economy is not yet overheating, but if trends continue, it could do so within the next two years.
# VISUALISED
Here's the impact of Ireland’s economic crisis on housing in graph form
Planning permissions peaked in 2004 with 101,653 permissions for construction of both new houses and apartments.
# Budgetary Policy
Austerity policies had a greater impact on women than men
Reductions in Child Benefit and other welfare payments accounted for most of the disparity.
# Mental Health
CEO of St Pat's says the recession created a generation of anxious children
Paul Gilligan said children now are very aware of the importance of doing well in their lives financially.
# randomer
'This country has been so unloved. People go on about 800 years of oppression, it's 800 years of rejection'
Poet Colm Keegan’s latest collection is an exploration of self and society.
# Your Say
Poll: Do you have more disposable income than five years ago?
Disposable incomes in Ireland are growing at over four times the eurozone average, according to Ibec.
# Recession
Why this Tipperary man with five degrees left a good job in the middle of the recession
As part of our How My Business Works series, we profile Dublin-based Future Analytics Consulting.
# ESRI
The middle class experienced a six-fold increase in economic stress as a result of the recession
A new ERSI study examines the experience of economic stress in families with children as a result of the recession.
# budget 2018
The tourist industry could lose its 9% VAT rate as it's 'under consideration' for Budget 2018
Restaurants and hotels express concerns as 1% hike is on the cards.
# Divorce
Recession's toll on divorce rates ends as applications return to 2008 levels
Divorce applications from 2015 were the highest level of this century.
# Personal finances
Irish consumer confidence hits highest level since recession
Ireland is now the fourth most confident country in Europe, overtaking the UK for the first time in almost nine years.
# Stress
The number of heart-related deaths rose significantly in Ireland after the 2008 crash
A study found a 17.2% increase in cardiovascular-related deaths following the 2008 economic crash.
# greatest hardship
Brian Cowen says he 'deeply regrets' the number of jobs lost during the recession
Despite this, however, the former Taoiseach defended his government’s policies in the downturn.
# seek the netherlands
A Wicklow business is Brexit-proofing itself by eyeing-up the Dutch market
“People hoping Brexit won’t happen,” businessman Paul Jacobs says. “Hope is for mass on Sundays.”
# 1994
20 things all Irish people born in 1994 will have strong memories of
Worrying about what would happen if you didn’t pass as 12 when you tried get into Spin.
# i O U
Remember the developers who 'exited Nama'? Most paid less than half their debts
51 out of 505 debtors that exited Nama paid 10% or less of their debts.
# Gadget Preview
Ford has teamed up with Amazon to create a personal driving assistant
We take a look at Alexa in the Car which was unveiled at this year’s CES.
# a herculean effort
Greece is out of recession for first time in two years
Greek government has claimed its economy is now in better shape than at any point since the financial crisis.
# massive increase
For the first time in years, more people are migrating into Ireland than leaving
There’s also been a surge in migrants with Irish nationality arriving in the country.
# waterford walls
Waterford locals have started a movement to reclaim their city's streets
And they’re doing it with art.
# opportunities
Father who returned to education received Leaving Cert results with his teenage daughter
In Ireland, 21% of people aged 25 to 64 have never completed upper secondary-level education.
# the road back
Is this still the most economically depressed town in Ireland?
It’s two years since Bunclody was named as the most economically depressed town. We paid a visit, to see if locals were feeling the recovery.