Ireland experienced an unexpected economic contraction in the most recent quarter, marking the first decline since 2023 and coming as a surprise ahead of broader euro-zone economic data expected this week. According to official figures released by the Dublin-based statistics agency on Monday, the country’s gross domestic product (GDP) decreased by 1% during the three months ending in June. This follows a significant 7.4% increase recorded in the prior quarter, highlighting a notable shift in economic momentum.
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Ireland’s Economy Just Shrank for the First Time Since 2023
Ireland ’s economy abruptly contracted during the last quarter for the first time since 2023, in an ominous report before euro-zone data due this week. n nGross domestic product shrank 1% in the three months through June, after an increase of 7.4% in the previous period, the statistics agency in Dublin said on Monday.