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According to the Central Statistical Office, GDP grew by 1.1% year-on-year in Q4 (non-seasonally adjusted) resulting in a 2.0% GDP growth recorded for 2012 as a whole. Retail sales (excl. Motor Trade) have been erratic, growing 0.1% in March (y/y), after a fall in February of 0.8% y/y and 3.1% y/y growth recorded in January. Consumer demand is set to remain fragile as unemployment levels continue to rise, reaching 14.4% in February, the highest level since March 2007.
Source : Cushman & Wakefield
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