Warning over 'two speed' Irish economy when Covid-19 crisis ends

The economy continues to operate at two speeds with the multinationals boosting expansion while domestic-facing firms are faltering, Goodbody chief economist Dermot O’Leary has said.

His comments come as new numbers showed multinationals helped drive GDP 1.2% higher in the first three months, as the Covid-19 crisis began to bite, but expanded by only 0.1% from the previous quarter when measured by GNP, which more accurately refelects the domestic economy.