Financial News: Irish GDP Rebounds 2.0% In Q3

Irish GDP Rebounds 2.0% In Q3

10/29/2024 - 09:13:00 (RTTNews)

(RTTNews) - Ireland's economy bounced back in the third quarter on the back of an increase in the multinational-dominated sectors, preliminary figures from the statistical office CSO showed on Tuesday.

Gross domestic product rose a seasonally adjusted 2.0 percent sequentially in the third quarter, reversing a 1.0 percent contraction in the second quarter. Further, this was the biggest growth since the third quarter of 2022.

The latest growth was driven by an increase in the multinational-dominated sectors of industry and information and communication, the agency said.

On a yearly basis, GDP decreased at a slower pace of 1.2 percent in the third quarter versus a 4.0 percent fall in the previous quarter.

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