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Irish economy technically in recession as GDP contracts again

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GDP fell by 4.6 per cent in the first three months of this year – the second consecutive quarter during which it dropped

Ireland News, Ireland Headlines

Ireland’s economy has fallen into a technical recession after gross domestic product (GDP) contracted for the second quarter in a row.

GDP fell by 4.6 per cent in the first three months of this year driven by a contraction in the multinational enterprise-dominated industry sector, according to the Central Statistics Office (CSO). This was the second consecutive quarter where GDP fell, though the CSO cautioned that the figures may be subject to revision.

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