Irish GDP Growth Slows to 0.9% in Q3

The Irish economy expanded by 0.9 percent on quarter in the three months to September of 2018, slowing from a downwardly revised 2.1 percent growth in the previous period. Personal consumption and government spending advanced at a softer pace and net trade contributed negatively to the GDP growth, as imports rose faster than exports.
CSO | Stefanie Moya | stefanie.moya@tradingeconomics.com 12/13/2018 11:29:46 AM
On the expenditure side of the accounts, household consumption went up 1.0 percent, easing from a 1.3 percent gain in the previous three-month period and government spending increased at a softer 1.8 percent (vs 2.1 percent in Q2). Additionally, net trade contributed negatively to the the growth, as imports advanced 7.1 percent (vs 4.1 percent) while exports rose at a softer 1.5 percent (vs 6.8 percent). Meanwhile, fixed investment jumped 21.8 percent, after grewing 1.4 percent in the second quarter of the year.

On the production side, a slowdown was seen in the industry sector (3.5 percent vs 5.0 percent in Q2); manufacturing (4.1 percent vs 4.7 percent); construction (3.5 percent vs 5.1 percent); distribution, transport, hotels and restaurants (1.1 percent vs 3.1 percent); information and communication (0.1 percent vs 10.9 percent) and professional and administrative services (1.4 percent vs 3.5 percent). Meanwhile, output rebounded in public administration, education and health (1.3 percent vs -1.2 percent in Q2) and arts and entertainment (6.1 percent vs -2.6 percent). Also, output rose further in financial and Insurance activities (2.9 percent vs 1.2 percent) and declined less in agriculture, forestry and fishing (-1.5 percent vs -4.0 percent).

Compared with the same quarter of the previous year, the GDP grew 4.9 percent, following a downwardly revised 8.7 percent expansion in the prior period.

Irish GDP Growth Slows to 0.9% in Q3