Econ­omy boosted by 6% quar­terly growth

Min­is­ter warns of com­pla­cency

Irish Daily Mirror - - NEWS - BY DEB­O­RAH MCALEESE

THE Ir­ish econ­omy grew by al­most 6% in the sec­ond quar­ter of the year, fig­ures have re­vealed.

Fi­nance Min­is­ter Paschal Dono­hoe said the coun­try is on tar­get to reach gross do­mes­tic prod­uct growth of 4.3% in 2017. He added: “The data pro­vides clear ev­i­dence of con­tin­ued mo­men­tum in the econ­omy. “Im­por­tantly, the growth is broadly bal­anced, with pos­i­tive un­der­ly­ing con­tri­bu­tions from both the do­mes­tic and ex­ter­nal sec­tors.” The Cen­tral Statis­tics Of­fice fig­ures showed the econ­omy grew 5.8% in the sec­ond quar­ter com­pared to the same pe­riod in 2016. Apart from small con­trac­tions in con­struc­tion and real es­tate, all sec­tors of the econ­omy ex­pe­ri­enced an im­prove­ment. The largest growth – 15.9% – was in the agri­cul­ture, forestry and fish­ing in­dus­try. Mr Dono­hoe said the Gov­ern­ment can’t be com­pla­cent and the “ap­pre­ci­a­tion of the euro em­pha­sises the need to con­tinue to im­prove our com­pet­i­tive­ness”. The fig­ures also show gross na­tional prod­uct, which fac­tors out prof­its from multi­na­tion­als, fell by 4.6% in the sec­ond quar­ter.

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