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Financial News: Ireland's GDP Recovers In Q2

Ireland's GDP Recovers In Q2

09/13/2018 - 06:21:00 (RTTNews)

(RTTNews) - Ireland's economy expanded in the second quarter after contracting a quarter ago, the Central Statistics Office reported Thursday.

Gross domestic product grew 2.5 percent sequentially in the second quarter, in contrast to a 0.4 percent fall in the first quarter.

Meanwhile, annual GDP growth slowed to 9 percent from 9.3 percent in the preceding period.

The expenditure-side breakdown of GDP showed that personal consumption, which accounted for 51.7 per cent of domestic demand, increased 1.5 percent compared with the previous quarter.

Government expenditure climbed 1.3 percent, while capital formation showed a decrease of 1.4 percent over the same period.

Exports grew 5.9 percent in the second quarter. Combining the export increase with an offsetting import increase of 0.3 percent, overall net exports for the quarter increased by EUR 5.2 billion.

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