Irish gross domestic product contracts amid fall-off in pharmaceuticals 

The decline during the second quarter was driven by a decrease in the multinational-dominated industry sector, which includes pharmaceutical companies. 

Irish gross domestic product (GDP) contracted by 1% between April and June, compared to the first quarter of the year, following a contraction in the pharmaceuticals-dominated industry sector, new data from the Central Statistics Office (CSO) shows.

According to the CSO’s preliminary GDP estimate for the second quarter, GDP is estimated to have contracted by 1% quarter-on-quarter.