Menu
23/09/2011
Irish Economy Up By 1.6%
The Irish economy has grown by 1.6% in the second quarter of the year as measured by gross domestic product (GDP).
Figures published by the Quarterly National Accounts this morning indicate a stabilisation of domestic demand as well as continuing export growth in the period April to June.
Consumer spending has also increased to 0.3% compared with the first three months of this year, while investment rose by 6.4%. Government spending dropped by 0.8%.
The Central Statistics Office (CSO) also revealed the strongest annual growth of GDP since 2007. They recorded that GDP grew at an annual rate of 2.3% in the second quarter.
Agriculture, forestry, fishing and industry (excluding building and construction) were the only sectors to grow according to CSO figures.
Meanwhile in the UK there's a grim warning of a possible new global recession.
The fears emerged after the International Monetary Fund (IMF) slashed the UK's growth forecast and warned that the world's economy was entering a "dangerous new phase".
According to the Irish Monetary Fund (IMF), the UK will see GDP grow by just 1.1% in 2011, according to their latest World Economic Outlook, compared with 1.7% in April.
It is now also predicted to grow by 1.6% in 2012, compared with 2.3% in previous forecasts.
(LB/BMcC)
Figures published by the Quarterly National Accounts this morning indicate a stabilisation of domestic demand as well as continuing export growth in the period April to June.
Consumer spending has also increased to 0.3% compared with the first three months of this year, while investment rose by 6.4%. Government spending dropped by 0.8%.
The Central Statistics Office (CSO) also revealed the strongest annual growth of GDP since 2007. They recorded that GDP grew at an annual rate of 2.3% in the second quarter.
Agriculture, forestry, fishing and industry (excluding building and construction) were the only sectors to grow according to CSO figures.
Meanwhile in the UK there's a grim warning of a possible new global recession.
The fears emerged after the International Monetary Fund (IMF) slashed the UK's growth forecast and warned that the world's economy was entering a "dangerous new phase".
According to the Irish Monetary Fund (IMF), the UK will see GDP grow by just 1.1% in 2011, according to their latest World Economic Outlook, compared with 1.7% in April.
It is now also predicted to grow by 1.6% in 2012, compared with 2.3% in previous forecasts.
(LB/BMcC)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
05 September 2002
Home grown produce is best says MLA
East Antrim MLA Roy Beggs has urged people to back a campaign to support Ulster produce. The UUP Assembly member was speaking as the Northern Ireland Food and Drink Association launched its first ever festival this week.
Home grown produce is best says MLA
East Antrim MLA Roy Beggs has urged people to back a campaign to support Ulster produce. The UUP Assembly member was speaking as the Northern Ireland Food and Drink Association launched its first ever festival this week.
25 January 2002
UK economy shows tenacity in GDP report
UK growth slowed down during the fourth quarter of 2001 in comparison to the previous three-month period – but the economy as a whole has expanded by 2.4 per cent. According to the latest figures from the Office for National Statistics (ONS) gross domestic product (GDP) rose by 0.
UK economy shows tenacity in GDP report
UK growth slowed down during the fourth quarter of 2001 in comparison to the previous three-month period – but the economy as a whole has expanded by 2.4 per cent. According to the latest figures from the Office for National Statistics (ONS) gross domestic product (GDP) rose by 0.
21 May 2019
NI Economy Growth Lags Behind UK
Northern Ireland's economy was the slowest growing of any UK region in the first quarter of 2019, according to an estimate report. The study, carried out by the Economic Statistics Centre of Excellence (ESCoE), showed that the UK economy expanded by 1.5%, up slightly by the 1.4% growth observed in the last quarter of 2018.
NI Economy Growth Lags Behind UK
Northern Ireland's economy was the slowest growing of any UK region in the first quarter of 2019, according to an estimate report. The study, carried out by the Economic Statistics Centre of Excellence (ESCoE), showed that the UK economy expanded by 1.5%, up slightly by the 1.4% growth observed in the last quarter of 2018.
27 August 2010
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
12 December 2012
Minister Launches £415,000 Lisburn Enterprise Project
Northern Ireland’s Social Development Minister has launched a new £415,000 social enterprise project at Resurgam Trust in Lisburn Nelson McCausland launched the project, which will see Resurgam establish up to four new social economy businesses in the Lisburn area.
Minister Launches £415,000 Lisburn Enterprise Project
Northern Ireland’s Social Development Minister has launched a new £415,000 social enterprise project at Resurgam Trust in Lisburn Nelson McCausland launched the project, which will see Resurgam establish up to four new social economy businesses in the Lisburn area.
-
Northern Ireland WeatherToday:Dry, bright start this morning with best of sunshine in the west. Thickening cloud over Down and Antrim this morning with a few showers, extending westwards this afternoon. Lighter winds. Maximum temperature 16 °C.Tonight:Rather cloudy and mainly dry at first, then showery outbreaks of rain extending westwards to most places during the night, turning heavier towards morning. Light winds. Minimum temperature 8 °C.
