Belfast Telegraph

Economy grew by 4.2%, official figures show

The economy grew by 4.2% at the tail end of the summer, official figures have revealed.

The Central Statistics Office (CSO) said that manufacturing and the information and communication sectors were the big drivers of the buoyant numbers.

But farming, forestry and fishing took a hit with a 9% fall in value.

The CSO said that figures for the first nine months of this year showed the overall economy, including the value added by multinationals, had grown by 7.4% compared with the same period last year, while the homegrown economy grew by 5.7%.

The statistics agency also noted that p ersonal consumption of goods and services, one of the key indicators of the health of the domestic economy, increased by 1.9% from July to September this year.

The CSO also said that large imports of intellectual property products and of figures related to the multibillion aircraft leasing industry were not included in the latest report.

A previous official report caused widespread derision after it carried figures from those sectors and suggested Ireland enjoyed 26% economic growth in 2015.

Other numbers from the latest review showed Irish e xports up 4.4%.

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