Latest CSO numbers point to a contraction in headline activity as measured by GDP
The Irish economy contracted by 3.3 per cent in gross domestic product terms in the first nine months of the year, according to a provisional estimate from the Central Statistics Office .
Most forecasters expect the Irish economy to grow by approximately 2 per cent this year in terms of modified domestic demand , a more accurate measure of the domestic economy. The latest GDP numbers indicate the economy here grew by 2 per cent in gross domestic product in the third quarter compared with the previous quarter.
“This moderate growth” was linked to increased activity in the multinational-dominated sectors of industry and information and communication, the CSO said.
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