Ireland's economy contracted in the second quarter amid a decrease in the multinational-dominated sector of industry, preliminary figures from the statistical office CSO showed on Monday.
Gross domestic product decreased a seasonally adjusted 1.0 percent sequentially in the second quarter, reversing a 7.4 percent expansion in the first quarter. Further, this was the first contraction since the first quarter of 2024.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.