DUBLIN, April 27 (Reuters) - Irish gross domestic
product fell by 2.7% quarter-on-quarter between January and
March but stood 6.4% higher than a year ago, according to a
preliminary estimate reading published by the Central Statistics
Office on Thursday.
The government has long cautioned against using GDP to
accurately measure economic growth as it is routinely inflated
by multinational activity. Its preferred measure, modified
domestic demand, is not included in the early estimates.
The quarter one fall was driven mainly by a drop in the
industry sector from very high levels in the second half of
2022, the CSO said. Irish GDP increased by 12% in 2022, while
modified domestic demand rose by 8.2% for the year as a whole.
(Reporting by Padraic Halpin;
Editing by Alison Williams)
Messaging: padraic.halpin.thomsonreuters.com@reuters.net))
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