Irish Economy Slows Sharply in Q3

The Irish GDP grew a meager 0.1 percent on quarter in the three months to September, following a downwardly revised 1.1 percent expansion in the previous period. The economy slowed for the second straight quarter as investment fell, private consumption was flat and net external demand came negative.

On the expenditure side, capital investment decreased by 0.8 percent between Q2 2014 and Q3 2014 and net exports made a small negative contribution of € 55m. Government expenditure decreased by 0.9 percent quarter on quarter while personal consumption was unchanged.

On the production side, other services increased by 1.7 percent and building and construction increased by 3 percent between Q2 2014 and Q3 2014. Distribution, transport, software and communication decreased by 0.2 percent and industry (excluding building and construction) decreased by 0.9 percent. Public administration and defence also decreased by 5.6 percent.

Year-on-year, the economy advanced 3.5 percent in Q3 2014. 

Irish Economy Slows Sharply in Q3

CSO | Joana Taborda |
12/11/2014 11:39:11 AM