Economic recovery 'may not be enough for people to notice'

on 02/01/2013 18:14:31

The in-house economist with property website Daft.ie has cautioned against being too optimistic on possible economic growth here next year.

The warnings come after the Tánaiste predicted Ireland's recession would be over by next year.

Eamon Gilmore said he believed a "post-recession" republic would become apparent by the end of this year.

While a report from Daft.ie indicate a stabilisation in the property market, the company's in-house economist Ronan Lyons said he believed the kind of growth the Tánaiste alluded to is unlikely in the short term.

"Recovery and getting out of recession means 1% or 2% growth per year and that's very difficult for people to notice, and won't be anything like a sense of recovery that I think was implied in the Tánaiste's remarks," he said.

"What I took from (his remarks) was that people would notice that the recovery was underway. I don't think that's going to be the case. It's going to be a slow and steady recovery, be it (in) car sales, unemployment or the housing market."