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News At One: George Lee, Economics Editor, explains that lending in the economy is very low and falling inflation reflects poor economic conditions
The annual rate of growth in October fell to 7.6%, the lowest figure since 1986.
The Central Bank described the mortgage figure as 'exceptionally weak'.
The amount of money lent for mortgages rose by just €26m during October, compared with the average monthly increase of almost €2bn at the height of the housing boom in 2006.
