Multinationals behind unexpected 5.4% fall in GDP in late 2021   

Austin Hughes, chief economist at KBC Bank, said GDP growth of around 5% "now looks likely in 2022" 

Residential construction expanded in the fourth quarter of 2021       

Foreign-owned multinationals, which delivered for the Irish economy during the pandemic, produced an unpleasant surprise for the first time in a long time, as GDP tumbled in the last three months of the year by 5.4%, new CSO figures show.            

GDP is the measure of the economy that best reflects the activity of the large number of multinationals, including Pfizer, Apple, Microsoft, Google, and Intel, which operate substantial European facilities here.