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.

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