Ireland's Gross Domestic Product (GDP) increased by 4.8 per cent year on year in the third quarter of 2005, new data from the Central Statistics Office (CSO) has revealed.
During the quarter, the volume of consumer spending grew by 6.5 per cent on the previous year's figures, while capital investment surged by 7.7 per cent. The volume of output of Industry also grew, showing 3 per cent growth compared with the third quarter in 2004.
Gross National Product (GNP), which excludes profits of foreign-owned enterprises, was 7 per cent for the same period.
However, net exports fell in the third quarter, showing a loss of €172 million when compared with the same period in 2004.
The first nine months of 2005 saw GDP rise by 4 per cent in constant prices, compared with 2004, while GNP reached 4.9 per cent for this period.