4th Jun 2026 11:22
(Alliance News) - Ireland's economy contracted markedly in the first quarter of 2026, data published by the Central Statistics Office showed Thursday.
At constant prices, gross domestic product declined by 13.2% on-quarter in the first quarter, worsening from a 6.6% contraction in the fourth quarter of 2025.
CSO noted that the industry sector, excluding construction, contracted by 35% on-quarter. Construction was up by 1.2%.
On-year, Ireland's economy fell by 17.1% in the first quarter, a sharp deterioration from a 2.2% fall in the fourth quarter.
Meanwhile, the country's unemployment rate ticked up to 4.9% in May from 4.8% in April.
Female unemployment increased to 5.3% in May from 5.2% in April, while male unemployment remained unchanged at 4.5%.
Youth unemployment for those aged 15 to 24 ticked up to 9.9% in May from 9.8% in April.
By Tom Budszus, Alliance News slot editor
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