Irish Economy contracts in First Quarter: GDP declines by 1.5% with small increase in GNP
Jun 30th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Economy: The CSO reported today that in the first quarter of 2008 GDP decreased by 1.5 per cent at constant prices compared with the same period in 2007 while GNP increased by 0.8 per cent in volume over the same period. The profits of foreign owned enterprises are excluded from GNP. GNP is also affected by other income flows between residents and non-residents and the timing of these flows can be variable.