Irish 2020 GDP May Fall by 14 Percent in Virus Second Wave: Central Bank

Irish 2020 GDP May Fall by 14 Percent in Virus Second Wave: Central Bank
Offices in the Central Bank of Ireland are seen in the financial district in Dublin, Ireland, on Nov. 8, 2017. Clodagh Kilcoyne/Reuters
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DUBLIN—Tentative signs of recovery in Ireland’s economy means it is likely to shrink by 9 percent this year if further stringent measures to contain the coronavirus are avoided, but almost 14 percent if they are reimposed, the country’s central bank said on Friday.

Ireland, which has had the fastest growing economy in Europe in recent years, mostly completed a careful exit from lockdown this week. But much of its services industry is operating at limited capacity, and travel from abroad is severely restricted.