{"id":669073,"date":"2026-10-29T18:04:39","date_gmt":"2026-10-29T18:04:39","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/669073\/"},"modified":"2026-10-29T18:04:39","modified_gmt":"2026-10-29T18:04:39","slug":"irish-economy-grows-by-5-5-in-gdp-terms-despite-inflation-challenges-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/669073\/","title":{"rendered":"Irish economy grows by 5.5% in GDP terms despite inflation challenges \u2013 The Irish Times"},"content":{"rendered":"<p class=\"c-paragraph paywall \">The Irish economy grew by more than 5 per cent in the third quarter despite the inflation shock, according to the <a href=\"https:\/\/www.irishtimes.com\/tags\/central-statistics-office\/\" target=\"_blank\" rel=\"noreferrer nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/tags\/central-statistics-office\/\">Central Statistics Office<\/a> (CSO).<\/p>\n<p class=\"c-paragraph paywall \">The agency said provisional estimates indicate that gross domestic product (GDP) increased by 5.5 per cent between July and September when compared with the previous quarter.<\/p>\n<p class=\"c-paragraph paywall \">\u201cThe result was driven mainly by increases in the multinational-dominated sectors of industry and information and communication in Q3 2026,\u201d it said.<\/p>\n<p class=\"c-paragraph paywall \">The GDP metric is increasingly seen as a bad gauge of domestic activity because of contract manufacturing (where goods are produced abroad but included in Irish exports) and other multinational-led activities. <\/p>\n<p class=\"c-paragraph paywall \">It is a better indicator of multinational exports.<\/p>\n<p class=\"c-paragraph paywall \">AIB said in its latest bulletin that it expected the economy here to grow by 3.8 per cent this year using the CSO\u2019s bespoke measure of growth, modified gross national income (GNI*).<\/p>\n<p class=\"c-paragraph paywall \">It also noted that <a href=\"https:\/\/www.irishtimes.com\/tags\/artificial-intelligence\/\" target=\"_blank\" rel=\"noreferrer nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/tags\/artificial-intelligence\/\">AI<\/a>-related spending connected with the fit-out of data centres and general investment by Irish-based companies in the tech sector was fuelling this growth. It warned that inflation was likely to peak at 4-5 per cent.<\/p>\n<p class=\"c-paragraph paywall \">Separate data published by the Central Bank indicated the net financial wealth of Irish households increased by \u20ac31.8 billion in the second quarter to reach \u20ac473 billion.<\/p>\n<p class=\"c-paragraph paywall \">\u201cPositive revaluations contributed \u20ac29.8 billion to this movement,\u201d it said.<\/p>\n<p class=\"c-paragraph paywall \">Net financial wealth excludes property and land assets. When they are included, household wealth is valued at \u20ac1.4 trillion.<\/p>\n<p class=\"c-paragraph paywall \">This equates to approximately \u20ac268,000 per person in the State.<\/p>\n<p class=\"c-paragraph paywall \">The increase in recent years has been driven by higher property values, which account for more than two-thirds of household wealth.<\/p>\n<p class=\"c-paragraph paywall \">\u201cOverall, the Irish economy remained a net lender vis-a-vis the rest of the world in the period, as net investment in financial assets exceeded the net incurrence of financial liabilities by \u20ac67.9 billion,\u201d the Central Bank said in its latest quarterly financial accounts.<\/p>\n<p class=\"c-paragraph paywall \">Government financial assets stood at \u20ac156.1 billion in the second quarter, while liabilities totalled \u20ac234 billion. <\/p>\n<p class=\"c-paragraph paywall \">\u201cAt the end of the quarter, the government\u2019s net financial wealth stood at -\u20ac77.9 billion, representing a continued improvement in its net financial position,\u201d it said.<\/p>\n","protected":false},"excerpt":{"rendered":"The Irish economy grew by more than 5 per cent in the third quarter despite the inflation shock,&hellip;\n","protected":false},"author":2,"featured_media":669074,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[7715,72,4505,14787,113,61,60],"class_list":["post-669073","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-aib","tag-business","tag-central-bank","tag-central-statistics-office","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/669073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=669073"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/669073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/669074"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=669073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=669073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=669073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}