CSO reports 5.5% economic growth for 2004

Ireland's economy grew by 5.5% last year, according to preliminary figures released today by the Central Statistics Office.

The CSO said the figure was based on GNP, which is regarded as the most accurate measurement of economic performance as it excludes profits made by foreign companies.

Elsewhere, the statistics agency said consumer spending rose by 3.2% in 2004, while capital investment was up 9.2% and net exports increased in value by €2.3bn.