GDP grew by 7.8 per cent.
Personal spending on goods and services fell by 5.1 per cent in the first quarter of the year.
The impact of level 5 restrictions can be seen in the Quarterly National Accounts published by the CSO.
Gross Domestic Product (GDP) grew by 7.8% in Q1 2021https://t.co/KnkOB6sAD4#CSOIreland #Ireland #NationalAccounts #BalanceofPayments #Economy #Macroeconomics #EconomicIndicators #CapitalStocks#GovernmentFinances #GovernmentAccounts #GovernmentExpenditure #EconomicActivity pic.twitter.com/f9l1nJw4Rc
— Central Statistics Office Ireland (@CSOIreland) June 4, 2021
While GDP grew by 7.8 per cent, when the profits of multinationals are excluded, economic activity declined by 1 per cent.
Chief Economist with KBC Bank, Austin Hughes, says over the course of the last twelve months, consumer spending has declined:
Quarterly National Accounts and International Accounts Quarter 1 2021 (Provisional) - Briefing - 4 June 2021https://t.co/xe61KYozfE#CSOIreland #NationalAccounts #BalanceOfPayments #InternationalAccounts #Economy
— Central Statistics Office Ireland (@CSOIreland) June 4, 2021
Finance Minister Pascal Donohoe insists the decline in domestic demand in the first quarter of the year, is in line with expectations.
Austin Hughes says it's a tale of two economies
Kinahan Due in UAE Court This Week
Brother Of Scarlet Faulkner Dies Two Days After Sister's Funeral
Kildare Site Included in National Heritage Funding Announcement
Events to Mark 1926 Census Bring History to Life
Day Of Talks Between Trade Unions, Employers and Government Concludes
Strait Of Hormuz Fully Open To Shipping During Ceasefire
Kildare Farmer Wins Teagasc Farm Forestry Award
Naas Library And Cultural Centre Chosen As One Of The Venues To Host The 1926 Census Exhibition
