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Ireland’s on-year economic growth continued to accelerate in the first quarter, while retail sales declined monthly in March, data published by the Central Statistics Office showed Tuesday. The country’s on-year gross domestic product growth sped up to 13.3% in the first quarter, from 9.2% in the fourth quarter of 2024. In the first quarter of 2024, GDP had declined by 4.5%. Quarterly however, economic growth slowed to 3.2% in the first quarter of 2025, from 3.6% in the fourth quarter of 2024. In the first quarter of 2024, quarterly GDP growth had stood at 1.6%. Separately, CSO reported that retail sales volumes fell 0.9% monthly in March. They were 1.3% lower than a year ago. The sharpest monthly decline was in department stores, down 3.8%, followed by pharmaceuticals, medical & cosmetic articles, down 3.3%. The best monthly growth in volumes were in hardware, paint & glass, up 11%, followed by motor trades, up 1.0%. The largest annual decline was in bars with a fall of 9.9%, followed by fuel with 3.1%. The sharpest annual climb in volumes was in hardware, paints & glass with 7.8%, followed by clothing, footwear & textiles with 6.7%. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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