GDP surge of 6.3% 'will reassure Government ahead of October's budget'

The figures will increase the confidence of the Government ahead of October’s budget that the economy is on course for a very strong rebound from the pandemic.

The Irish economy expanded at the fastest rate in Europe in the spring quarter boosted by the multinationals and the start of the lifting of restrictions that helped lift domestic spending.

GDP increased 6.3% in the three months to the end of June compared with the previous quarter, reflecting the continuing strong growth from the foreign-owned pharma and communications corporate giants based here, as well as the bounce back from the Covid health restrictions that increased domestic consumption, CSO statisticians said.