Ireland’s GDP shrank for the third straight quarter in the three months ending in December, preliminary figures from the statistical office CSO showed on Thursday.
Gross domestic product dropped a seasonally adjusted 0.6 percent sequentially in the fourth quarter, following a 0.3 percent decrease in the third quarter. Further, the economy continued to remain in recession.
The decrease was mainly driven by contraction in the multinational-dominated industry sector, the agency said.
On a yearly basis, GDP expanded at a slower pace of 3.7 percent in the fourth quarter versus 10.8 percent growth in the previous quarter.
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