The country’s gross domestic product posted quarterly growth of 3.9% from April to June after a sharp 7% fall in the first three months of the year related to the unwinding of US tariff-related stockpiling.
This is according to a preliminary estimate from the Central Statistics Office today.
The Government has long cautioned against using GDP to accurately measure economic growth as it is routinely distorted by multinational activity. Its preferred measure, modified domestic demand (MDD), is not included in the early estimates.
But GDP is still used to calculate Ireland’s share of activity across the euro zone and can be subject to large revisions.
GDP was down 1.6% on a year-on-year basis in the second quarter, due to the tariff-related jump a year ago, today’s CSO figures show.
The CSO cautioned that today’s preliminary results are subject to revisions in the Quarterly National Accounts’ second quarter release, which will be published in early September.
