Ireland's GDP up 5.8% in first quarter of 2006

BizWorld:

Ireland's economy continued to grow at a strong pace in the first quarter of the year, with the value of all goods and services produced here, jumping at an annual rate of 5.8pc.

Figures released today by the Central Statistics Office (CSO) also show that gross national product (GNP), which excludes the income earned by foreign multinationals based here, grew by 7pc in the first three months.

The CSO said that the growth was driven by consumer spending increases of 6pc, greater capital investment and a booming construction industry.

Capital investment rose by 11pc on the same period last year, but industrial output moved up just 0.6pc, the figures show.

The CSO also said that final figures for 2005 show that GDP grew by 5.5pc last year, while GNP was up 5.4pc.

Irish economic outlook good

Ireland's GDP increased by 5.5% in 2005

Irish GDP increased by 5.8% in Quarter 1 2006 compared with same period in 2005

The Irish join the world's wealthiest