Chart of the week: Ireland’s economic recovery gathers momentum
Ireland's recovery is picking up speed, but it still has a long way to go before it takes off.
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Ireland has suffered a wrenching recession and only narrowly averted national bankruptcy thanks to a bailout from international creditors. But now it finally appears to be turning the corner.
Unfortunately, there isn't much life in the domestic economy, as households are still weighed down by debts that total twice the national income, while mortgages arrears have been on the rise. Instead, growth depends on exports. For now, trade is strong.
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Yet while Ireland's two top trading partners, America and Britain, are growing rapidly, Europe, another key export destination, seems to be slowing. So it looks like there's a long slog to go before the rebound reaches take-off speed.
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