Irish Economy grew by 0.7% in 2011

The Irish economy returned to growth since 2007, but a slowdown in the final two quarters of the year meant the country was technically back in recession. 

New data from the Central Statistics Office showed gross domestic product (GDP) grew by 0.7 per cent. 

However, falling exports and reduced Government spending saw GDP decline 0.2 per cent from the third quarter. 

Gross national product, which excludes multinational firms, fell by 2.5 per cent over the year, and 2.2 per cent compared with the previous quarter.

Link (submitted by Lauren)