Ireland’s economy contracted for the fifth straight quarter in the three months ending December, mainly due to the weaker performance in the multinational-dominated sectors, preliminary figures from the statistical office CSO showed on Friday.
Gross domestic product fell a seasonally adjusted 0.7 percent sequentially in the fourth quarter, following a 2.3 percent decline in the third quarter.
In the second quarter of 2023, the economy contracted 0.4 percent.
The downward trend in the December quarter was mainly attributed to decreases in the multinational-dominated sectors of industry and information and communication.
On a yearly basis, GDP decreased at a slower pace of 3.4 percent in the December quarter versus a 5.4 percent fall in the September quarter.
During the whole year 2023, the Irish economy shrank 1.9 percent compared with 2022, the data said.
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