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Ireland’s economy declined less sharply in the first quarter of 2026 than previously estimated, revised figures from the Central Statistics Office showed on Thursday. At constant prices, gross domestic product shrank by 7.9% in the first quarter from the fourth quarter of 2025, worsening from a 3.6% contraction in the fourth quarter from the third. However, first quarter GDP was revised upward from a 13% decline estimated in early June, while fourth quarter GDP was revised up from a 6.6% decline. On-year, Ireland’s economy fell by 13% in the first quarter, revised up from a 17% fall. This represented a sharp deterioration from a 0.4% fall in the fourth quarter, which was revised up from a 2.2% decline. Meanwhile, modified domestic demand, a better measure of Ireland’s domestic economy, was up 0.3% on-quarter in the first quarter of 2026, revised down from 0.6%. Figures from the CSO indicated that Ireland’s economy grew dramatically this time last year as technology and pharmaceutical exports to the US increased ahead of tariffs threatened by US President Donald Trump. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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