Pace of economic growth decelerates in Q3: CSO

Ireland remains on course to be the fastest growing EU economy in 2014 despite GDP increasing by a marginal 0.1% over the third quarter of the year.

The latest national accounts from the Central Statistics Office show that GDP grew by 0.1% over the July to September period, compared with the previous quarter, although it grew by 3.6% compared with the same period in 2013. The pace of economic growth has decelerated from the breakneck speed over the first half of the year. GDP growth over the three months from April to June was 1.1% compared with the first quarter, but up an impressive 7.3% compared with the same period in 2013.

The Government is on track to meet all its targets this year. It estimates that the economy will grow by 4.7% over the 12-month period.