Ireland enters recession after GDP shrinks by record level in second quarter

The fall in Ireland's GDP was amongst the smallest in Europe and well below the EU average of almost 12%

Shoppers on Winthrop St, Cork. The personal consumption of goods and services decreased by 19.6% in the second quarter. Picture: Larry Cummins

The Irish economy has entered recession after contracting by 6.1% in the second quarter according to data from the Central Statistics Office (CSO).

The fall is the largest quarterly decline in GDP on record, surpassing the 4.7 per cent decline recorded in the fourth quarter of 2008.