The Icelandic economy grew 1.1% year-on-year in the first quarter in real terms, the Statistics Iceland said Thursday. This is significantly slower compared to 4.6% growth seen in the fourth quarter. On a seasonally adjusted basis, gross domestic product rose 1.2%, slower than 4.6% recorded in the previous quarter.
The seasonally adjusted GDP fell 3.7% quarter-on-quarter, reversing a 0.3% rise in the quarter before.
In the fourth quarter, total domestic expenditure increased 1.2% year-on-year in real terms. Exports rose 0.2% and imports climbed 0.4% during this period.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.