Ireland out of recession as exports jump

Ireland's economy bounced back from recession in the first quarter, with a 2.7 per cent expansion compared with the final three months of last year.

Exports led the charge, boosting hopes that cuts in public spending may not damage her economy as badly as feared.

The Irish economy has been in decline since the start of 2008. At 14.3 per cent of GDP, Ireland's budget deficit was the largest in the EU last year.