The economy grew strongly in the second quarter of the year, according to statistics published by the Central Statistics Office today.
GDP grew by 5 per cent year-on-year with the second quarter in 2005 and GNP for the same period was 9 per cent up. The profits of foreign-owned companies are excluded from GNP.
The CSO figures also show that consumer spending in volume terms in the second quarter of 2006 was up 6.7 per cent on the same period of last year.
Capital investment, at constant prices, during the second quarter of 2006 was 2.2 per cent less than in the second quarter of 2005.
Net exports - which counts exports minus imports - in constant prices were €131 million lower in the second quarter of 2006 compared with the same period of 2005. This in an indication that increases in consumer spending are being driven by goods imported from abroad and that Irish exports are not keeping pace.
The volume of output of industry increased by 6.8 per cent in the second quarter compared with the same period of 2005.