Ireland skyline

Ireland Government Consumption (ann. var. %)

GDP growth records best reading in Euro area in the fourth quarter

According to a preliminary estimate, GDP growth picked up to 3.5% on a seasonally adjusted quarter-on-quarter basis in the fourth quarter from 2.3% in the third quarter. Q4’s reading marked the best result in the Euro area, and meant that the economy grew 12.2% in 2022—also the best result in the Euro area.

On an annual basis, economic growth gathered pace, accelerating to 13.5% in Q4, following the previous quarter’s 10.9% expansion. Q4’s reading marked the best result since Q4 2021.

Growth is expected to slow in the coming quarters. In Q1, most of our panelists expect the economy to contract, while in the following quarters growth is not expected to reach the highs seen in 2022. Although multinational balance sheet movements will continue to distort GDP readings and make them volatile, the non-multinational sector is already showing signs of slowing under the weight of rising interest rates and elevated inflation.

Ireland Government Consumption (ann. var. %) Data

2017 2018 2019 2020 2021
Government Consumption (ann. var. %) 3.8 4.5 6.8 11.6 6.5

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest