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Ireland GDP Q1 2024

Ireland: GDP rebounds in Q1

According to a preliminary estimate, GDP bounced back in the first quarter, expanding 1.1% on a seasonally adjusted quarter-on-quarter basis, contrasting the 3.4% contraction recorded in the fourth quarter of last year. Q1’s reading marked the best result since Q3 2022. On an annual basis, GDP contracted 0.8% in Q1, from the previous period’s 8.7% contraction. Q1’s reading marked the best result since Q2 2023.

A detailed breakdown is not yet available, but the statistical office said that the result had been driven by the multinational-dominated sector of information and communication.

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