The Central Bank is predicting the economy will shrink by 0.4 per cent this year.
The figure in its latest quarterly bulletin, is in contrast with the 9 percentage point fall that was forecast in July.
It expects domestic demand to drop by just over 7 per cent, but says a strong exports market will reduce its impact.
However the Central Bank is warning some sectors will be worst affected than others.
Harris Stands By Dole Crackdown Amid Opposition Ridicule
Greystones-Based Judge Helps Select Winner Of Amhrán Na Laoch For Irish Radio
Wicklow Football Boss Hails Departing Stalwart Mark Kenny
Two Arrested After Greystones Gym Burglary
Wicklow TD Says Local Radio Is “Totally Underfunded” With Independent Sector Share Dwarfed By RTÉ