Financial News: Irish Economy Shrinks 2.0% In Q1

Irish Economy Shrinks 2.0% In Q1

04/29/2026 - 07:08:00 (RTTNews)

(RTTNews) - Ireland's economy contracted for the second straight quarter in the three months ending in March, preliminary figures from the statistical office CSO showed on Wednesday.

Gross domestic product fell a seasonally adjusted 2.0 percent sequentially in the first quarter, slower than the 3.8 percent expansion in the fourth quarter. With this, the country has now entered a technical recession.

The result was driven mainly by a fall in the multinational-dominated sector of industry, the CSO said.

On a yearly basis, GDP showed a renewed contraction of 6.0 percent in the March quarter, following a 2.2 percent growth in the final quarter of 2025.

Separate official data showed that the volume of retail sales grew 1.6 percent annually in March, faster than the 1.3 percent increase in February. Sales have been rising since April 2025.

Sales of electrical goods advanced 5.1 percent from last year, and those of pharmaceuticals, medical, and cosmetic articles were 3.4 percent higher.

Monthly, retail sales rebounded 0.2 percent versus a 0.6 percent fall in February.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Eurozone Economic Confidence Weakest Since 2020 (04 min(s), 24 sec(s) ago)
(RTTNews) - Euro area economic confidence deteriorated to the lowest level since November 2020, un ...Full Story»

Belgian Economy Expands 0.2% In Q1 (10 min(s), 24 sec(s) ago)
(RTTNews) - Belgium's economy grew at a slightly faster pace in the first quarter of 2026, p ...Full Story»

Irish Economy Shrinks 2.0% In Q1 (45 min(s), 24 sec(s) ago)
(RTTNews) - Ireland's economy contracted for the second straight quarter in the three months ...Full Story»

Italy Consumer Confidence Weakens Further In April (01 hr(s), 18 min(s), 24 sec(s) ago)
(RTTNews) - Italy's consumer confidence decreased for the second straight month in April to th ...Full Story»

Spain Inflation Rises In April (02 hr(s), 16 min(s), 24 sec(s) ago)
(RTTNews) - Spain's harmonized inflation accelerated in April due to higher energy prices amid ...Full Story»

Norway Retail Sales Fall 0.1% In March (03 hr(s), 10 min(s), 24 sec(s) ago)
(RTTNews) - Norway's retail sales decreased for the second straight month in March, though mar ...Full Story»

Estonia Retail Sales Growth Accelerates To 6.9% (03 hr(s), 47 min(s), 24 sec(s) ago)
(RTTNews) - Estonia's retail sales growth rebounded at the end of the first quarter, data from ...Full Story»

Swedish GDP Contracts 0.2%; Retail Sales Growth Accelerates (04 hr(s), 26 min(s), 24 sec(s) ago)
(RTTNews) - Sweden's economy contracted unexpectedly in the first quarter of 2026, while ret ...Full Story»