Irish domestic economy grew by 4.3% quarter-on-quarter in Q2
2022.09.02 13:26
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FILE PHOTO: A cargo ship loading containers is seen at Dublin Port beside Poolbeg Generating Station owned by the Electricity Supply Board, in Dublin, Ireland, February 11, 2022. REUTERS/Clodagh Kilcoyne
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DUBLIN (Reuters) – Ireland’s domestic economy grew by 4.3% quarter-on-quarter from April to June, recovering from a 0.1% decline in the first quarter of the year, data from the Central Statistics Office showed on Friday.
Modified domestic demand (MDD), which strips out some of the ways Ireland’s large multinational sector distorts measuring economic activity, was 10.6% higher than in the same period in 2021 when the economy was emerging from a strict lockdown.
Gross domestic product (GDP), a broader measure of economic activity, grew by 1.8% on the quarter and was 11.1% higher year-on-year. The government has long cautioned against using this measure as it is routinely inflated by multinational activity.
