The outlook for Ireland’s economy looked bleak at the end of 2011, as the Central Statistics Office (CSO) announced that the nation’s economy had shrunk by three percent. Economists suggest that this is the result of the Irish government’s austerity measures, which have knocked consumer confidence and reduced spending. Not all parts of the Irish economy have suffered, however, as agricultural exports are up by ten percent. The worst affected industry is that of construction, which recorded a record drop of twenty-five percent.