Ireland’s economy deteriorated further in the first quarter of 2026, with GDP shrinking by 7.0% quarter-on-quarter, according to data updated on 2 July 2026. The decline deepens the contraction seen previously, when GDP fell by 3.6% quarter-on-quarter in the same period, compared with the quarter before it.
The latest figure underscores a pronounced weakening in economic activity, as the quarter-on-quarter drop has nearly doubled in scale. The data highlight that not only has Ireland remained in negative territory, but the pace of decline has accelerated significantly when comparing the most recent quarter to its immediate predecessor. Investors and policymakers will now be closely watching subsequent releases for signs of stabilization or further deterioration in the country’s growth trajectory.