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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. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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