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.
Daina Moorehouse On The Brink Of Medal After Two Victories In Brazil World Cup
Wicklow star wowing the crowds with precision and skills at the World Cup in Brazil to secure a medal bout
Wicklow Households Encouraged To Explore Grants To Lower Energy Bills
Grants for solar, heat pumps and insulation can lower bills, make homes warmer, and put money back into people's pockets.
New Equipment To Support Disabled Water Sports Users In Accessibility Boost For Bray Harbour
Dominant Daina Moorehouse Into World Cup Last 16 After Opening Brazilian Bout
Enniskerry Boxing Club's Daina Moorehouse continues to carry the flame of pioneering Katie Taylor in amateur boxing with a commanding opening win at the World Cup in Brazil
Greystones E-Bike Scheme Flourishing With Over 12,000 Recorded Trips
Get on yer bike! They certainly are in Greystones ........ in their droves and a year-on from the e-bike roll-out in the north Wicklow town it seems they can't get enough.
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Light rain
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Light rain
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Light rain
High: 18°C | Low: 8°C