Early CSO data shows GDP drop of 2.7% in Q1
Early estimates indicate that Gross Domestic Product (GDP) fell by an estimated 2.7% in Q1 2023, when compared with Q4 2022, according to CSO data.
The result was driven mainly by a fall in the industry sector in Q1 2023 from very high levels in the second half of 2022.
Using the early estimate for Q1 2023, GDP is estimated to have increased by 6.4% when compared with the same quarter in 2022.
Preliminary results
These preliminary results are subject to revisions in the Quarterly National Accounts (QNA), which will publish results for Q1 2023 in early June, when additional data sources are available to the CSO.
They will be further updated following the release of the Annual National Accounts for 2022 provisionally scheduled for the end of June.