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
Nurses At Naas And Nine Other Hospitals Set To Protest Over Pay
Minister Lawless Announces €34M Student Support Package For Budget 2027
Kildare Minister Says Budget 2027 Will Support Those "Who Are Vulnerable"
Dáil Passes Tax Measures Despite Widespread Criticism
LIVE: Budget 2027 Announcements
Delays At Hazelhatch Train Station This Morning Due To Signalling Issues
Government Leaders Meeting Now To Finalise Budget 2027 Details
Daniel Kinahan Due In Court Charged With Directing Criminal Organisation Activities
