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Ireland GDP Q4 2023

Ireland: GDP contracts again in the fourth quarter

According to a preliminary estimate, GDP declined at a slower pace of 0.7% on a seasonally adjusted quarter-on-quarter basis in the fourth quarter, above the 1.9% contraction tallied in the third quarter. On an annual basis, economic activity contracted at a softer rate of 3.4% in Q4, from the previous period’s 5.8% fall.

In its press release, the statistical office stated that the decline was driven by the multinational sector. The volatile nature of the sector means the GDP figures could be revised significantly ahead.

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