Ireland's two-speed economy suggested by new CSO output figures

Multinationals continue to expand at a much more rapid pace than Irish-owned firms

The modern sector which includes pharmacueticals expanded by 4.3% compared to the previous three months.

The part of the economy dominated by multinationals is continuing to expand at a much rapid pace than the other part that features Irish-owned firms, new CSO figures on industrial output suggest.

The figures show in the three months to the end of September, the so-called modern sector expanded 4.3% from the previous three months and surged by over 33% from a year earlier.