3.3% Ireland GDP contraction in first 9 months, Q3 2.0% growth; officials emphasize domestic demand as better indicator.
Ireland's economy saw a 3.3% contraction in GDP during the first nine months of the year, primarily due to distortions from multinational corporations. However, a 2% growth in GDP was recorded in Q3, reversing a prior decline, driven by activity in multinational sectors. Despite these fluctuations, officials emphasize that modified domestic demand is a better indicator of living standards than GDP, which can be misleading in measuring the domestic economy.
October 29, 2024
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