Economy

Irish economy falls into recession after downward revision of growth figures

There has now been negative GDP growth for four quarters in a row

The CSO figures show that GDP was also down 1.3% in the year to September, compared to the same period in 2022

The Irish economy has fallen officially into recession, according to newly published figures from the Central Statistics Office, driven by a fall in pharmaceutical exports.

Using the metric of gross domestic product (GDP), the Irish economy shrank by 1.9% in the months July to September compared to the previous three months.

The government has sought to move away from using GDP as the key metric of measuring the Irish economy as it is often skewed ...