Financial News: Irish Economy Grows Less Than Estimated In Q1

Irish Economy Grows Less Than Estimated In Q1

07/08/2025 - 11:05:00 (RTTNews)

(RTTNews) - Ireland's economic growth accelerated less than initially estimated in the first quarter of 2025, final figures from the statistical office CSO showed on Tuesday.

Gross domestic product advanced a seasonally adjusted 7.4 percent sequentially in the first quarter, faster than the downwardly revised 4.5 percent expansion in the fourth quarter. In the second estimate, the rate of growth was 9.7 percent.

Further, this was the strongest growth since the first quarter of 2021.

There was continued growth in the domestic economy in the first quarter, with Modified Domestic Demand growing by 2.0 percent and personal spending increasing by 0.3 percent compared with the final quarter of 2024, the agency said.

Data showed that the multinational-dominated sectors of the economy expanded by 13.6 percent in the March quarter.

On a yearly basis, GDP growth quickened to 20.0 percent from 11.6 percent in the fourth quarter of 2024. In the previous estimate, the rate of expansion was 22.2 percent.

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