Irish Economy: A three-speed recovery in 2010
Aug 6th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Economy: A three-speed recovery in 2010; The recovery in the Irish economy is underway, but to date, officially for only one of the three key indicators -- GDP, GNP and employment - - according to NCB Stockbrokers. GDP (gross domestic product) expanded by 2.7% quarter on quarter (q/q) in Q1 on the back of a huge contribution from net exports. This was primarily driven by the multinational sector. As such, payments abroad to the owners of the capital were large and when subtracted from GDP lead to GNP (gross national product), which actually declined by -0.5% q/q in Q1.