Ireland's economic growth dlows in Q3
2012-12-18 14:51:45
The Irish economy expanded at a slower pace in the third quarter, preliminary data released by the Central Statistics Office showed Tuesday.
Gross domestic product increased a seasonally adjusted 0.2 percent sequentially in the third quarter after gaining 0.4 percent in the second quarter, which was revised up from a flat reading.
Domestic consumption expenditure rose 0.5 percent during quarter, while net government consumption decreased by 0.3 percent. Gross domestic fixed capital formation was higher by 8.5 percent compared to the preceding quarter.
On an annual basis, GDP advanced 0.8 percent in the third quarter, following the second quarter's 0.5 percent decrease.
The gross national product (GNP), which includes more volatile components, meanwhile, decreased 0.4 percent quarter-over-quarter during the three-month period, reversing the 4.7 percent growth seen in the second quarter.
Year-on-year, GNP increased at a slightly faster rate of 3.7 percent in the third quarter than 3.6 percent in the three months ended June, data showed.