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Ireland GDP Q2 2023

Ireland: GDP grows most since Q1 2022 in the second quarter

According to a preliminary reading, economic activity bounced back 3.3% on a seasonally adjusted quarter-on-quarter basis in the second quarter, contrasting the 2.8% contraction seen in the first quarter. Q2’s reading marked the best result since Q1 2022. On an annual basis, economic growth picked up to 2.7% in Q2, compared to the previous quarter’s 2.2% expansion.

In its press release, the statistical office stated that the rebound 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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