Irish economy enters technical recession following unexpected 4.6% fall in GDP

Excluding construction, the globalised industry sector contracted by more than 18% in the first three months of 2023

Excluding the construction sector - which grew by 12% in the quarter - the globalised industry sector contracted by more than 18%

Gross domestic product has decreased significantly more than expected following a contraction of 15.7% in multinational-dominated sectors.

New findings from the Central Statistics Office found that GDP fell by 4.6% in the first three months of 2023, with Gross National Product - which excludes multinational profits and repatriations - falling even more sharply by 8%.