Weekly Export Risk Outlook, July 9

07.10.2014 ZF English

The Irish economy strongly rebounded in the first quarter, on the back of dynamic exports and despite a surprising decline in private consumption, Euler Hermes noted in its Weekly Export Risk Outlook report.

The quarterly growth of Ireland’s gross domestic product was 2.7% in the first quarter, which was also reflected in improving conditions on the labor market. Unemployment fell to a five-year low of 11.6% in June, Euler Hermes analysts noted.

Positive signs came from the other side of the Atlantic Ocean, as recent data point to a marked improvement of the US economy after dismal performance in the first quarter, the report said. The economy created 288,000 jobs in June, much more than expected, while the unemployment rate fell to 6.1%.

The report also analyzes the changes in European Central Bank’s monetary policy. Download the full report: