Focus on multinationals as Irish GDP shrinks by 4.7%

The CSO figures also showed that GDP fell by 1.8% in the three months to the end of September from the previous quarter

The shrinking of Ireland's GDP has been under close scrutiny this year as economists weigh whether a sharp fall in output and exports can be attributed to an individual large foreign-owned company, or to a wider number of multinationals based here. Stock picture: Denis Minihane

The Irish economy shrunk by 4.7% from a year earlier, as measured by GDP, as the focus remains on the huge influence that multinationals play in exports and output in the economy.

The Central Statistics Office (CSO) figures also showed that GDP fell by 1.8% in the three months to the end of September, from the previous quarter.