We're starting to come out of the doldrums!



There were new indications that the Irish economy is stabilising, as manufacturing output showed an increase in November for the first time in more than a year and a half.

According to NCB Stockbrokers, the output increase was driven by new order growth, which rose for the first time in 21 months. New export orders increased at a faster pace than overall new business.


Click on the article below to continue...

Irish manufacturing output rises - The Irish Times - Tue, Dec 01, 2009

How much of this was Windows 7 CD's ?

Doldrums? It hasn't even started

The burdens are even greater in Ireland and Latvia, where economic booms fueled by easy credit and soaring property values have given way to precipitous busts. Public debt in Ireland is expected to soar to 83 per cent of gross domestic product next year, from just 25 per cent in 2007. Latvia is sinking into debt even faster. Its borrowings will reach the equivalent of nearly half the economy next year, up from 9 per cent a mere two years ago.

That 83% is before NAMA, so add in another 35%, thats nearly 120%. The collective interest alone for the Nation next year will be 25 Billion. So everyones first 250 Euro the earn a week will go to servicing just the interest alone, nevermind the principal.

After Dubai, where the next debt bombs lurk?

I can only presume the OP is an attempt to cheer people up before Xmas?

or a joke?

Originally Posted by Cassandra Syndrome

Doldrums? It hasn't even started



That 83% is before NAMA, so add in another 35%, thats nearly 120%. The collective interest alone for the Nation next year will be 25 Billion. So everyones first 250 Euro the earn a week will go to servicing just the interest alone, nevermind the principal.

After Dubai, where the next debt bombs lurk?

Explain why the above affects the likes of Intel, Pfizer, HP, Microsoft J&J to name a couple... these are our primary exporters and the above will employ thousands....

Originally Posted by Middleaged

Explain why the above affects the likes of Intel, Pfizer, HP, Microsoft J&J to name a couple... these are our primary exporters and the above will employ thousands....

will the net effect to the irish economy of any export pick-up by these corporates negate the net effect of increasing unemployment, increased taxes, increased debt servicing costs, increased emigration, increased cross-border shopping etc?

I would respectfully suggest not

I am convinced that there are people who actually despise good news .

Originally Posted by eurocitizan

I am convinced that there are people who actually despise good news .

everybody likes good news (hurray for good news!)

but to take a single piece of good news out of the overall situation and represent it as a macro trend....that's just myopic and delusional

The export sector of our economy may be 'stabilising' but our internal market is still deep in depression. Our public spending is out of control following rapid expanision of public sector employment based on bubble revenues, which is driving massive borrowing that we'll be paying for forever. All of this is before any mention of the bailout of the builders and the bankers, with borrowed money, which again we will be paying for forever. So while one sector of the economy is stabilising, exports, the overall economy is still a basketcase.

Originally Posted by HarshBuzz

will the net effect to the irish economy of any export pick-up by these corporates negate the net effect of increasing unemployment, increased taxes, increased debt servicing costs, increased emigration, increased cross-border shopping etc?

I would respectfully suggest not

No,and I agree,no immediately, but we have to start somewhere, and it was always going to be when US, UK, Europe recovered... as global demand increases and it will, our FDI's will increase production, which in turn will feed the greater economy..

Thats why Lenihan needs to do the right thing in the Budget, not the popular thing the right thing, other wise we'll never get out of this mire... this goes for any other political party that goes into governement... we have to get used to unpopular decisions.... as a people, a country, and as an economy..