Jim Power, Chief Economist, Friends First : latest Economic Outlook

Jim Power, Chief Economist, Friends First has presented his latest economic outlook this morning from the Merrion Hotel in Dublin city centre.

Key points this quarter:

• Having come through the global banking crisis over the past couple of years, the global economic background has become distinctly uncertain again, largely due to the sovereign debt crisis that is now centred on Europe.
• The US economy is currently growing at a 3 per cent pace, but there are some risks to the downside over the coming months.
  
• The UK economy still has reasonable economic momentum, but there are also risks to growth over the coming months.
  
• The Irish economy is still going through a very difficult adjustment process. However, it is clear that most economic indicators are now suggesting that the dramatic decline in economic activity is starting to level out.