September 2023
The quarterly national accounts for the second quarter of this year have been published.In the second quarter of this year, Modified Domestic Demand – a proxy for the domestic economy – expanded by 1 per cent relative to the previous quarter.Consumer spending increased by 0.9 per cent in the second quarter, reflecting the strength of the labour market.GDP was up 0.5 per cent over the quarter but was down -0.7 per cent on an annual basis, reflecting the volatility of production in the multinational sectors and falling demand for Covid-related pharma exports.
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Source: www.gov.ie