Irish domestic economy contracts slightly by 0.5%

Largest contraction in the April to June period was seen in the arts and entertainment sector, down 10.1%

Finance Minister Jack Chambers said the fall in GDP 'reflects the volatile nature of activity in the multinational sector'.

The domestic economy contracted slightly by 0.5% in the period April to June as significant contractions were recorded in the finance and insurance sector, as well as in arts and entertainment, new data from the Central Statistics Office (CSO) shows.

Gross Domestic Product fell by 1.0% in Quarter 2 2024, while Modified Domestic Demand decreased by 0.5%https://t.co/tFaEO0gPcw#CSOIreland #Ireland #NationalAccounts #BalanceofPayments #Economy #Economics #Macroeconomics #EconomicIndicators #CapitalStocks #FixedAssets pic.twitter.com/eK7y8chDJP

— Central Statistics Office Ireland (@CSOIreland) September 5, 2024