6th Jun 2024 11:40
(Alliance News) - Ireland's economy expanded in the first quarter of 2024 by less than previously thought, and its trade surplus narrowed, data from the Central Statistics Office showed Thursday.
Gross domestic product increased 0.9% on a provisional basis in the first quarter of 2024 from the fourth quarter of 2023, swung from a decline of 3.4% in the fourth quarter of 2023 from the third.
The latest estimate for GDP growth at the start of 2024 was less than the CSO's early estimate at the end of April of 1.1% quarterly growth.
Meanwhile, Ireland's trade surplus shrank by 16% to EUR46.6 billion in the first quarter of 2024 from EUR55.2 billion a year prior.
The CSO also reported that direct investment into Ireland declined by EUR1.6 billion in the first quarter of 2024, while direct investment abroad climbed by EUR15 billion.
By Tom Budszus, Alliance News slot editor
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