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Ireland's economy has grown by more than seven times the EU average

Ireland's economy grew by more than seven times the EU average driven by exports of goods and per...
Newstalk
Newstalk

11.15 18 Sep 2014


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Ireland's economy has...

Ireland's economy has grown by more than seven times the EU average

Newstalk
Newstalk

11.15 18 Sep 2014


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Ireland's economy grew by more than seven times the EU average driven by exports of goods and personal consumption.

The Central Statistics Office says GDP grew by 1.5% in the second quarter compared to an EU average of nought-point-two percent, one percent in Estonia and zero growth overall in the euro area.

On the output side of the accounts, Industry (including Building and construction) increased by 4.7 per cent in volume terms between Q1 2014 and Q2 2014.

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Distribution, transport, software and communication increased by 2.9% per cent in volume terms on a seasonally adjusted basis over the same period while Other Services declined by 0.8% and Public administration and defence decreased by 0.5 per cent.

On the expenditure side, Capital Investment increased by 9.1 per cent while Net exports made a positive contribution of €723m (a 7.2% increase) in volume terms on a seasonally adjusted basis between Q1 2014 and Q2 2014.

Gross value added in Agriculture, forestry and fishing increased by 13.9 percent while Distribution, transport, software and communication increased by 11.3 per cent in Q2 2014 compared with the same quarter of 2013. 

G.N.P was also up 0.6% percent between April and June.

Year on year G.D.P was up 7.7%, while G.N.P. grew 9% compared to the second quarter of 2013.


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