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Mark Stedman/Photocall Ireland

Irish economy shrank by 1.9 per cent in third quarter

Striking new figures from the Central Statistics Office show that the economy took a major hit between July and September.

THE IRISH ECONOMY shrank dramatically in the third quarter of 2011, striking new figures from the Central Statistics Office have shown – with Ireland once again the worst-performing economy in the European Union.

Gross Domestic Product – the total value of all goods and services produced – fell by 1.9 per cent in the three months from July to September.

Meanwhile, Gross National Product – the value of all services supplied by Irish residents, which is considered by some to be a more accurate barometer of economic performance – fell by 2.2 per cent.

The shrinkage in GDP is the worst since the first quarter of 2009, and reverses the trend set in the first two quarters of this year when the economy grew by 1.8 and 1.4 per cent.

On an annualised basis, the economy is still growing, but only by a modest rate of 0.5 per cent – a significant dive on the stats from earlier this year.

Building and construction has performed worst in the last year, with the value of output falling by over 20 per cent, while public administration and defence output has fallen by 4 per cent.

Agricultural, forestry and fishing output is up by 15 per cent on last year, though that sector also took a significant hit in the last quarter.

The news comes a day after preliminary data for October showed that Ireland’s trade surplus – the amount by which the value of exports exceeds imports – had fallen by 11 per cent in October.

Stats produced by Eurostat earlier this month showed that economic growth in the 27 European Union member states had fallen to an average of 0.3 per cent in the third quarter, with growth in the eurozone at just 0.2 per cent.

Ireland had the worst-performing economy in the EU in the third quarter – a drastic turnaround form the second quarter, when it had the second-highest rate of growth.

The combined statistics paint a bleak picture for the economy’s short-term prospects, and will be a major blow to the government as it sets about cutting public spending further next year.

Shrinking exports mean 11pc fall in trade surplus

Eurozone woes to impact on Irish export growth in 2012, warns NIB

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32 Comments
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    Mute KO
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    Apr 29th 2025, 7:26 PM

    Is this a suprise to anyone ?

    171
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    Mute Dogg
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    Apr 29th 2025, 8:08 PM

    The sign of a good government is not what it can do abroad, it’s the conditions of its own people at home that show it can get its own house in order. At the moment there is a lot of discontent among its people. We currently have the two main parties working in unison and the unrest among the people hasn’t been seen since the civil war. MM said he didn’t accept the criticism from the protestors because he feels we are in a better place than ever before and I believe he is in denial with that statement and that’s scary. Tis worrying times for our little country and its great people.

    146
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    Mute jn
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    Apr 29th 2025, 7:39 PM

    end of road is near for ffg the wheels have fallen off every can their kicking down the road at this stage,local Irish are emigrating in droves, as local big town in munster absolutely flooded with non Irish shocked yesterday

    167
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    Mute MN
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    Apr 29th 2025, 7:56 PM

    Not just road units but they’re the ones who rake in the dollars

    95
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    Mute liam hehir
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    Apr 29th 2025, 8:14 PM

    Shame on them.
    Shortages everywhere.
    A first world country with third world services at best.
    They just do not care.
    I love my country its my government I hate.
    Shame on them .

    138
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    Mute Dogg
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    Apr 29th 2025, 8:08 PM

    I’m afraid there’s a new scandal everyday for FFG, they really have taken their eye off the ball and are continuing to focus on matters abroad. Palestine, trying to be the big lad in the EU Commission, the moral super power of the world and us hundreds of Billions in debt.
    They are spending like teenagers that got their first wage packet. As Tommy Tiernan said ‘Money doesn’t suit us’. We are a tiny little island trying to punch way above our weight.

    84
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    Mute Jb Walshe
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    Apr 29th 2025, 8:43 PM

    @Dogg: “they have taken their eye off the ball” you say….when have they ever had their eye on the ball ? Only to line their own pockets !

    75
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    Mute tony mc g
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    Apr 30th 2025, 10:27 AM

    @Dogg: Sinn Fein/provos would sort all this in no time at all.

    1
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    Mute Brian Molloy
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    Apr 29th 2025, 8:33 PM

    Is there anything there clowns in government have done right besides lining their own and their cronies pockets, health,gardai,defence etc ,all understaffed,

    119
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    Mute Daniel Wilson
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    Apr 29th 2025, 10:37 PM

    @Brian Molloy: they built a fairly decent bike shelter recently

    47
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    Mute DeBaldyMullet
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    Apr 29th 2025, 8:17 PM

    Spend some of the ‘kerching’ from those speed vans and pay for more staff.

    59
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    Mute Fred
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    Apr 29th 2025, 9:17 PM

    Drew Harris has been a total disaster by all accounts. Martin, Harris,McEntee etc should be dragged in front of an Oireachtas committee to explain their incompetence.

    90
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    Mute Athena
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    Apr 29th 2025, 7:35 PM

    Can’t ‘civilians’ be trained into certain jobs and procedures like accident investigation???

    35
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    Mute and the hit's just keep coming
    Favourite and the hit's just keep coming
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    Apr 29th 2025, 7:56 PM

    @Athena: ite a response unit …. meaning they would have to be a fully qualified Garda first to be able to drive using lights and sirens to a road fatality….. also they need to be a member so they can preserve the chain of evidence and the crash scene in case it turns into a criminal case …..

    32
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    Mute The facts
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    Apr 29th 2025, 8:04 PM

    @and the hit’s just keep coming: they shouldn’t be driving. We have police helicopters that could take them the majority of the way. Expecting one expert to travel to the other end of the country is farcical and typical of us Irish. Our public sector management are an utter farce.

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    Mute PAUL C
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    Apr 30th 2025, 12:07 PM

    @and the hit’s just keep coming: don’t need to be a gard to drive a car with lights and sirens .. fire brigade, ambulance etc . in terms of chain of custody .. I’ll point you to the forensic crime lab in kildare .. not staffed by AGS !! absolutely could be filled by a civilian competition .. in the article it states that the comp was discontinued as standards of those that applied (all garda applicants) were not meant. There is a mathematical aptitude element of the application this is most likely what is being referenced here. note the GRA didn’t say they needed more Gards assigned .. just more forensic investigators ..! MANAGEMENT are also allergic to increasing the amount of these people as because they are not Gards they don’t have the same control over them. MANAGMENT DONT LIKE THAT!

    1
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    Mute Gerry Lynch
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    Apr 29th 2025, 8:18 PM

    and roma knacks roaming the streets to stab people

    42
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    Mute Basildon Joe
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    Apr 29th 2025, 7:52 PM

    Why ain’t arsenal on the fkcimg tv??disgusting and Rte needs investigation

    14
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    Mute Danny O'Mahony
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    Apr 29th 2025, 8:07 PM

    @Basildon Joe: Amazon Prime have the rights. Football has truly sold its soul when they put such a massive game behind a pay wall

    17
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    Mute Basildon Joe
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    Apr 29th 2025, 8:30 PM

    @Danny O’Mahony: I give up Danny they are shitters doing that to the working man

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    Mute Jb Walshe
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    Apr 29th 2025, 8:45 PM

    @Basildon Joe: down with your British garbage,back to Essex for it

    83
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    Mute Kev Kerr
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    Apr 29th 2025, 9:03 PM

    @Basildon Joe: any self-respecting Basildon Joe would have a dodgy box

    50
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    Mute Hunt Ley
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    Apr 30th 2025, 2:07 PM

    Something fundamentally wrong eith jow the public service performs . The leadership of state bodies seem to play musical chairs. One is as incompetent as the other.
    It’s clear there’s a crisis in policing. Harris needs to go, and a tough law and order policy be implemented.

    1
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