Thursday, December 11, 2014

11/12/2014: QNA Q3 2014: Irish Growth Broadly De-accelerates

CSO-released preliminary estimates for Q3 2014 show:

- GDP "remained practically unchanged in volume terms on a seasonally adjusted basis compared with Q2 2014"
- GNP increased by 0.5% on Q2 2014
- GDP rose 3.5% y/y in Q3 2014
- GNP rose 2.5% y/y in Q3 2014.

By sectors and categories of expenditure:
- Other Services increased by 1.7% q/q
- Building and construction increased by 3% q/q
- Distribution, transport, software and communication decreased by 0.2%
- Industry (excluding Building and Construction) decreased by 0.9 per cent
- Public administration and defence also decreased by 5.6%
- Capital Investment decreased by 0.8% y/y
- Net exports made a negative contribution of €55m.
- Government expenditure decreased by 0.9 per cent q/q
- Personal expenditure was unchanged q/q

Overall, a very poor reading compared to previous ones and a poor reading in absolute terms.

More detailed analysis to follow.

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