The country officially exited recession in 2010, assisted by a growth in exports from US multinationals in Ireland. However, due to a rise in the cost of public borrowing due to government guarantees of private banking debt, the Irish government accepted an €85 billion programme of assistance from the EU, International Monetary Fund (IMF) and bilateral loans from the United Kingdom, Sweden and Denmark. Following three years of contraction, the economy grew by 0.7% in 2011 and 0.9% in 2012. The unemployment rate was 14.7% in 2012, including 18.5% among recent immigrants. In March 2016 the unemployment rate was reported by the Central Statistics Office (Ireland) to be 8.6%, down from a peak unemployment rate of 15.1% in February 2012. In addition to unemployment, net emigration from Ireland between 2008 and 2013 totalled 120,100, or some 2.6% of the total population according to the Census of Ireland 2011. One-third of the emigrants were aged between 15 and 24.. By how many percent lower was the unemployment rate in March 2016 compared to February 2012?