The economy grew by 11 per cent from June to September last year putting growth for the year on course for up to 10.5 per cent, according to the latest data from the Central Statistics Office.

This was slightly lower than the corresponding increases of 11.9 per cent and 12.6 per cent in the first two quarters of 2000. The increase in gross national product was 9 per cent.

The figures also show that consumer spending rose by 7 per cent, a little lower than the previous two quarters. Investment in new buildings and equipment rose 8.6 per cent.

Exports continued to surge ahead and exceeded imports by £3.19 billion (€4 billion) compared with £2.63 billion in the same period in 1999.

Industry output increased by 12.3 per cent, while transport and communications grew by 11.2 per cent. The volume of output of other services was up 10.7 per cent.

Agriculture also grew significantly and the volume of output in the three months was up 10.4 per cent.