The Irish economy is finally out of recession and "probably returned growth" in the first quarter of this year according to the latest research report by Davy stockbrokers.
The stockbroker said the latest data from retail sales, goods exports and car sales pointed to an end to the recession that commenced in late 2007.
The report set the recovery was being led by exports with an increase in global demand having a positive effect.
While investment will lag, consumer spending has been stable for almost a year and is set for growth as precautionary spending eases, according to Davy chief economist Rossa White.
The stockbroker said it expected unemployment to peak in the third quarter at about 13.6 per cent, adding that export-led growth is not labour-intensive enough to reduce unemployment quickly.