Economy

Irish GDP down 2.7 per cent in first quarter

While GDP was up on an annual basis however this was also the first such quarter without year-on-year growth of 10 per cent or more since Q4 of 2020

The fall is the first since Q4 of 2021 per the CSO’s data. Photo: file

GDP fell by 2.7 per cent on a quarterly basis in the first three months of 2023 but was up 6.4 per cent on a yearly basis. according to preliminary estimates published by the Central Statistics Office.

The quarterly decline represents the first drop since the fourth quarter of 2021.

While GDP was up on an annual basis however this was also the first such quarter without year-on-year growth of 10 per cent or more ...