Irish manufacturing output rises - our economy is stabilising

bobbysands81

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We're starting to come out of the doldrums!



There were new indications that the Irish economy is stabilising, as manufacturing output showed an increase in November for the first time in more than a year and a half.

According to NCB Stockbrokers, the output increase was driven by new order growth, which rose for the first time in 21 months. New export orders increased at a faster pace than overall new business.


Click on the article below to continue...

Irish manufacturing output rises - The Irish Times - Tue, Dec 01, 2009
 


Cassandra Syndrome

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Doldrums? It hasn't even started

The burdens are even greater in Ireland and Latvia, where economic booms fueled by easy credit and soaring property values have given way to precipitous busts. Public debt in Ireland is expected to soar to 83 per cent of gross domestic product next year, from just 25 per cent in 2007. Latvia is sinking into debt even faster. Its borrowings will reach the equivalent of nearly half the economy next year, up from 9 per cent a mere two years ago.
That 83% is before NAMA, so add in another 35%, thats nearly 120%. The collective interest alone for the Nation next year will be 25 Billion. So everyones first 250 Euro the earn a week will go to servicing just the interest alone, nevermind the principal.

After Dubai, where the next debt bombs lurk?
 

HarshBuzz

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I can only presume the OP is an attempt to cheer people up before Xmas?

or a joke?
 

Middleaged

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Doldrums? It hasn't even started



That 83% is before NAMA, so add in another 35%, thats nearly 120%. The collective interest alone for the Nation next year will be 25 Billion. So everyones first 250 Euro the earn a week will go to servicing just the interest alone, nevermind the principal.

After Dubai, where the next debt bombs lurk?
Explain why the above affects the likes of Intel, Pfizer, HP, Microsoft J&J to name a couple... these are our primary exporters and the above will employ thousands....
 

HarshBuzz

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Explain why the above affects the likes of Intel, Pfizer, HP, Microsoft J&J to name a couple... these are our primary exporters and the above will employ thousands....
will the net effect to the irish economy of any export pick-up by these corporates negate the net effect of increasing unemployment, increased taxes, increased debt servicing costs, increased emigration, increased cross-border shopping etc?

I would respectfully suggest not
 

Eurocitizen

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I am convinced that there are people who actually despise good news .
 

HarshBuzz

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I am convinced that there are people who actually despise good news .
everybody likes good news (hurray for good news!)

but to take a single piece of good news out of the overall situation and represent it as a macro trend....that's just myopic and delusional
 

bm42

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The export sector of our economy may be 'stabilising' but our internal market is still deep in depression. Our public spending is out of control following rapid expanision of public sector employment based on bubble revenues, which is driving massive borrowing that we'll be paying for forever. All of this is before any mention of the bailout of the builders and the bankers, with borrowed money, which again we will be paying for forever. So while one sector of the economy is stabilising, exports, the overall economy is still a basketcase.
 

Middleaged

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will the net effect to the irish economy of any export pick-up by these corporates negate the net effect of increasing unemployment, increased taxes, increased debt servicing costs, increased emigration, increased cross-border shopping etc?

I would respectfully suggest not
No,and I agree,no immediately, but we have to start somewhere, and it was always going to be when US, UK, Europe recovered... as global demand increases and it will, our FDI's will increase production, which in turn will feed the greater economy..

Thats why Lenihan needs to do the right thing in the Budget, not the popular thing the right thing, other wise we'll never get out of this mire... this goes for any other political party that goes into governement... we have to get used to unpopular decisions.... as a people, a country, and as an economy..
 

lifeisagame

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I am convinced that there are people who actually despise good news .
Be that as it may it is not true to say that we are coming out of the doldrums.
We are still firmly stuck in it and it will take a lot of recovery in Foreign Countries to get us out of the the hole.
However we will just keep the Nails sharp and hang in there.
 

Cassandra Syndrome

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I am convinced that there are people who actually despise good news .
Look at my thread about the possibility of the Federal Reserve being audited and possibly abolished. Thats what I call good news and a reason for optimism.

Nearly anything else is like being happy with the tune the band has started playing when you are on the Titanic.
 

Pauli

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Explain why the above affects the likes of Intel, Pfizer, HP, Microsoft J&J to name a couple... these are our primary exporters and the above will employ thousands....
"Our" primary exporters? I would suggest that these are foreign corporations, currently located in Ireland and exporting from Ireland, who, when a better offer comes from elsewhere, would seriously consider leaving Ireland to export from somewhere else.
 

Cassandra Syndrome

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everybody likes good news (hurray for good news!)

but to take a single piece of good news out of the overall situation and represent it as a macro trend....that's just myopic and delusional
Exactly. So many people's lives have been ruined by these crappy good news reports from these type of institutes in 2007 and 2008. I'll stick with the fundementals, thank you very much such as unemployment rate, CPI and REAL GDP.
 

bormotello

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I am convinced that there are people who actually despise good news .
Where is good news?
MNC’s always been used as justification for high property prices and high salaries in public sector, but actual input into Irish economy is not as big as it looks
Ireland has a high level of FDI as a percentage of GDP. c.75%, (GNP c.85%) compared to OECD average of 25%, Italy 20%, Spain 35%

In 2007 spend in Irish economy by IDA supported FDI is €15.9b of which salaries €6.8b, Irish raw materials €2.5b and Irish services €6.6b

IDA supported clients created 8,800 jobs in 2008, now employing circa 136,000 full time
This equates to c.6.5% of total numbers employed.
Even all MNC’s will leave Ireland, it will hit country much less then burst of property bubble
 

lifeisagame

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"Our" primary exporters? I would suggest that these are foreign corporations, currently located in Ireland and exporting from Ireland, who, when a better offer comes from elsewhere, would seriously consider leaving Ireland to export from somewhere else.
Ehhh obviously from your OP that you would prefer they left. What is your magical idea that we should replace them with??????
 

Cassandra Syndrome

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Explain why the above affects the likes of Intel, Pfizer, HP, Microsoft J&J to name a couple... these are our primary exporters and the above will employ thousands....
Because we are not liechenstein or San Marino. We have no real wealth. We have resources but nobody seems to know how to use them anymore. We have to become more self sufficient. We should not be relying on Multinationals.
 

lifeisagame

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Because we are not liechenstein or San Marino. We have no real wealth. We have resources but nobody seems to know how to use them anymore. We have to become more self sufficient. We should not be relying on Multinationals.
I do not like saying this, but an OP like that deserves a GROW UP.
We have zero chance of being even close to self sufficient.
The resources we have are the skilled people that were trained by......Foreign Companies in Ireland.
 


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