Professor John McHale:

One of the very positive features is that growth, to the extent that it had been taking place over recent years, was concentrated in the net export sector. We are now starting to see that broaden out to the domestic sector. It will take a number of years of strong domestic demand growth before people really begin to feel it. Even though we are only at the early stages, having that turnaround from a contracting domestic economy to a growing one is very welcome. We are also starting to see it show up in the labour market.

The Deputy will recall that the unemployment rate was over 15%. Now that it is below 10%, we are starting to see a turnaround in migration flows. I know that things are still difficult on the ground, but they are turning around.