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30/06/2008
GDP Down 1.5% In First Quarter
The ongoing economic decline has been further underlined by a report by the Central Statistics Office (CSO) showing Irelands GDP has fallen by 1.5%.
A report last week revealed Ireland was tottering on edge of recession, and the latest release from the Central Statistics Office has quelled any remaining optimism.
Ireland's gross domestic product has retracted due to a fall in the level of consumer spending and capital investment, brought on by the seizing up of the construction sector.
However, the GNP, which takes into account profits from foreign owned enterprises amongst other elements, has gone up by 0.8% compared with the same period last year.
A similar mixed bag of news comes from the CSO's figures on industry output. According to the report, the volume of industry output fell by 5.2% compared to 2007. One of industries largest sectors, construction, was mainly to blame for this increase dropping by 16.4%, while Distribtion, Transport and Communications rose by 0.6% and 'Other Services' rose by 4.5%.
But the ongoing crises in the housing sector continues to pressure the economy with the report showing the growth in mortgage lending is down to its lowest rate for 16 years.
(DW)
A report last week revealed Ireland was tottering on edge of recession, and the latest release from the Central Statistics Office has quelled any remaining optimism.
Ireland's gross domestic product has retracted due to a fall in the level of consumer spending and capital investment, brought on by the seizing up of the construction sector.
However, the GNP, which takes into account profits from foreign owned enterprises amongst other elements, has gone up by 0.8% compared with the same period last year.
A similar mixed bag of news comes from the CSO's figures on industry output. According to the report, the volume of industry output fell by 5.2% compared to 2007. One of industries largest sectors, construction, was mainly to blame for this increase dropping by 16.4%, while Distribtion, Transport and Communications rose by 0.6% and 'Other Services' rose by 4.5%.
But the ongoing crises in the housing sector continues to pressure the economy with the report showing the growth in mortgage lending is down to its lowest rate for 16 years.
(DW)
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29 July 2011
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17 November 2009
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27 October 2015
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A search and rescue operation has resumed for a 19-year-old man, feared to have fallen into the sea in Co Clare. The operation was launched on Monday when a report was received that the man was missing at about 11am. It is understood he has not been seen since Sunday night.
Search Operation Resumes For Man Feared To Have Fallen Into The Sea
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Ireland WeatherToday:Gale, coastal severe gale, northwest winds ease from late afternoon. Scattered showers will fall as snow over the hills at first, becoming isolated from mid-afternoon. Maximum temperature 7 °C.Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Cloud will spread east towards morning. Minimum temperature 2 °C.
