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Financial News: Ireland's Economy Expands At Slower Pace

Ireland's Economy Expands At Slower Pace

03/06/2020 - 07:26:00 (RTTNews)

(RTTNews) - Ireland's economic growth slowed at the end of 2019, preliminary estimates from the Central Statistics Office showed on Friday.

Gross domestic product advanced 1.8 percent sequentially in the fourth quarter, slower than the 2.1 percent expansion in the third quarter. Nonetheless, this was the second consecutive growth after contracting in the second quarter.

Information and communication made the most positive contribution to the fourth quarter growth. Quarter-on-quarter, farm output gained 6.9 percent and construction advanced 4.7 percent. Meanwhile, industry, excluding construction decreased by 3.6 percent and manufacturing fell 3.6 percent.

On a yearly basis, the economy expanded at a pace of 6.2 percent after rising 4.5 percent in the third quarter.

In 2019, GDP increased 5.5 percent and gross national product advanced 3.3 percent.

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