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The Irish economy beat expectations in Q4, with a fall of just 0.05% q/q despite the unfavourable external environment. The robust rise in consumption underpinned growth, albeit it also contributed to a deterioration in net foreign trade. Exports were also affected by weak demand from the euro zone and UK. Nevertheless, Ireland recorded one of the strongest annual growth rates in the euro zone in 2012, which proved that the economy is recovering from the deep financial crisis that forced it into a bailout in 2010.
Source : Cushman & Wakefield
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