CSO figures confirm 1.1% GDP decline
CSO figures have today confirmed that the domestic economy contracted by 1.1% in the first three months of this year when compared with the last quarter of 2011.
The decline in Gross National Product was slightly larger at 1.3%.
However when you compare the figures to the first three months of 2011, there were increases in both GDP and GNP.
The figures were formally published today after being accidentally leaked yesterday.
Agriculture (+3.2%) and "other services" (+0.7%) were the only sectors to grow between the end of 2011 and the beginning of 2012.
Personal spending, exports, Government spending and capital investment were all down on a seasonally adjusted basis.
