A report on the economy from stockbroker Davy says that the pace of decline in economic activity has slowed down, and that January-February was the worst point in the recession.
Davy says, however, that while the Irish recession is past its most acute point, a 'double dip recession' is possible if households react badly to the recent Budget.
It says there will be reduced activity in the construction sector next year, but the fall will be at a more moderate rate than during this year and last.
The report claims that the low point for Irish shares was during the first three months of this year.
