Irish economy sees robust growth

Dublin, Aug 1 (IANS) Ireland’s gross domestic product (GDP) in the first quarter of this year rose by 1.4 percent quarter-on-quarter, with an increase of 6.5 percent year-on-year, according to official figures.

The figures from the Central Statistics Office (CSO) showed Ireland’s domestic demand was strong last year with consumer spending increasing two percent year-on-year, Xinhua news agency reported.

These are solid figures and confirm that economic recovery is well established, the CSO said.

Last year, Ireland’s GDP grew by 5.2 percent, the strongest rate of growth in the European Union (EU).

Ireland’s Finance Minister Michael Noonan said Friday’s figures are “very positive”.

“Robust growth is being recorded across most sectors of the economy, both domestic-facing and exporting,” Noonan said.

Exports were strong in the opening quarter, growing by 14.3 percent year-on-year, he said, adding that the multinational sector is contributing but so too are Irish-owned firms.

Domestic demand is also growing strongly, with consumer spending increasing by 3.8 percent in the first quarter, the sacrifices made are now paying dividends, he said.

 

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here