GDP growth slowed to 0.3% quarter-on-quarter from October to December, following growth of 2.8% in the previous three months, and stood 12% higher than in 2021 for the year as a whole. (Reporting by Padraic Halpin Editing by Christina Fincher)
Messaging: padraic.halpin.thomsonreuters.com@reuters.net)) DUBLIN, March 3 (Reuters) - Ireland's domestic economy
fell into a technical recession in the final quarter of 2022,
Central Statistics Office data showed on Friday, but still grew
by 8.2% for the year as a whole while the broader but unreliable
measure of GDP powered further ahead.
With Ireland's large multinational sector often distorting
gross domestic product (GDP), officials prefer to use modified
domestic demand to gauge the strength of the economy and it fell
1.3% quarter-on-quarter, following a 1.1% decline in the third
quarter.
Modified domestic demand, which strips out some of the ways
multinational activity can inflate economic activity, was still
much higher in 2022 than in 2021 due to strong investment-led
growth in the first half.
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