Bank of Ireland economist Dr Dan McLaughlin says it is likely that the Irish economy grew in the first three months of this year.
In his quarterly economic outlook, the economist said industrial production had 'soared' in the first two months of this year, while the car scrappage scheme had helped retail sales to return to growth in February
He said these figures challenged the consensus view that the economy would not return to growth until the second half of this year. Dr McLaughlin is forecasting that the Irish economy, measured by gross domestic product, will grow by 1% this year.
The economist said further falls in employment and wages would still hold back household spending, though he expected it to stabilise this year.
He also said a return to growth led by exports would not have a huge impact on the public finances.
