2026.07.0210:00:00UTC+00Ireland’s GDP Slump Deepens in Q1 as Year‑on‑Year Decline Widens to 13%

Ireland’s economy recorded a sharp contraction in the first quarter of 2026, with gross domestic product (GDP) falling 13.0% year‑on‑year, according to data updated on 2 July 2026. This marks a substantial deterioration from the previously recorded 0.4% decline, also measured on a year‑on‑year basis for the first quarter.

The figures indicate that the scale of Ireland’s downturn has intensified compared with the same period a year earlier. While the earlier data pointed to a relatively modest year‑on‑year dip in activity, the latest reading underscores a much steeper contraction in overall output. The data are presented on a year‑over‑year comparison, meaning both the current and previous indicators reflect changes in the first quarter relative to the corresponding quarter of the prior year.

The pronounced shift from a 0.4% to a 13.0% decline highlights mounting pressure on Ireland’s economy in early 2026, though the underlying sectoral drivers of the drop are not detailed in the released figures.