Ireland’s economy shrank after growth
2022.12.02 07:11
Ireland’s economy shrank after growth
Budrigannews.com – According to the Central Statistical Office on Friday, Ireland’s domestic indicators decreased by 1.1 in the quarter, after a steady growth of 4.7 due to investment in the second quarter of this year.
The CEO noted that the decline in the quarter was primarily due to the strong position of the base in the second quarter. Changes in domestic demand for MDD continue to increase by 10.1 in the first 9 months of 2022, despite some methods used by large multinational corporations in Ireland to distort economic activity.
The Irish Ministry of Finance forecasts growth of 7.7% overall for 2022. The latest economic data suggests that activity will slow down in the second half of the year, and the Ministry of Finance expected that inflation would lead to declines in consumer incomes in the third and fourth quarters.
According to Friday’s data, personal expenses for goods and services increased by 0.3 in the quarter, which is significantly less than the 2.2 growth in the second half of the year. In September, the Ministry of Finance lowered the estimate of changes in domestic demand for 2023 to 1.2%. GDP, the largest economic indicator, grew by 10.9 in annual terms and 2.3 in the quarter. For a long time, the government has not stimulated the use of this indicator because it often increases as a result of large-scale activities.
In a statement, Assistant CEO of CSR Jennifer Banim said: “While economic growth has increased in many areas, the overall picture has been mixed.” She spoke about the serious quarterly growth of agriculture, as well as the decline in the areas of professional and financial services.
