Irish Economy Shrinks Most in a Year on ‘Weak’ Spending
This article is for subscribers only.
Ireland’s economy shrank the most in a year in the fourth quarter of 2010 as rising unemployment curtailed consumer spending and investment and exports declined.
Gross domestic product fell 1.6 percent from the previous three months, when it increased 0.6 percent, the Central Statistics Office said in a report published in Dublin today. Consumer spending declined 0.4 percent and exports fell 1.4 percent. In 2010, the economy shrank 1 percent, a third annual contraction.