Industry (excluding Construction) made a positive contribution to the Q2 result, rising by 15.9%. System of Health Accounts 2018. Construction declined by 38.3% quarter-on-quarter, with Agriculture, Forestry and Fishing falling by 60.6% and Arts and Entertainment by 65.5%. The direct approach for seasonal adjustment replaces the indirect approach and aggregates are now generated by aggregating the seasonally adjusted components.

Factor Income outflows were 1.5% lower in Q2 2020 (€19,383m) compared with Q1 2020 (€19,673m) and consequently GNP decreased by 7.4% in the period. Skehard Road, Cork T12 X00E, Ireland, Geographical Profiles of Income in Ireland, Life in 1916 Ireland: Stories from statistics, Ireland North and South - A Statistical Profile, Agriculture Price Indices - Preliminary estimates, Quarterly National Accounts Quarter 2 2020, Quarterly National Accounts Quarter 1 2020 Final, Quarterly National Accounts Quarter 1 2020 Provisional, Quarterly National Accounts Quarter 4 2019, Quarterly National Accounts and International Accounts Q2 2020 Presentation (PDF 2,583KB), Information Note - Implications of COVID-19 on the Quarterly National Accounts Q2 2020, Quarterly National Accounts Revisions Tables 1 to 4 Quarter 2 2020 (XLS 37KB), GDP and GNP (seasonally adjusted) at constant 2018 prices.
COVID-19 impact; Mixed results across economic sectors. Imports decreased by 37.2% year-on-year compared with Q2 2019 while Exports decreased by -0.2%. Visualisations, Infographics, School Resources, Competitions and much more... Central Statistics Office Social Impact of COVID-19 Survey June 2020 Measuring Comfort Levels around the Easing of Restrictions. Personal Consumption Expenditure exhibited a year-on-year decline of 22.1% in the quarter. This is largely explained by the absence of substantial imports of Intellectual Property Products (IPP) following on from the globalisation effect in Capital Investment and Imports that took place in Q1 2020. On the expenditure side of the accounts (Table 3) Capital Investment contracted by 67.5% in Q2 2020 compared with Q2 2019 and accounted for 38.9% of total domestic demand in Q2 2020. The statistic shows the growth in real GDP in Ireland from 2009 to 2019, with projections up until 2021. The Information & Communication sector declined 4.3% year-on-year with Public Administration, Education and Health exhibiting a small decline of 0.2% and Financial & Insurance activities and Real Estate activities exhibiting declines of 3.7% and 4.4% respectively. All other sectors exhibited year-on-year declines with Distribution, Transport, Hotels and Restaurants recording a decrease of 32.0%. The decision was taken following the advice of our colleagues in CSO Methodology Division and is in line with the CSO Policy on Seasonal Adjustment and Eurostat’s Seasonal Adjustment recommendations. Final domestic demand declined by 46.9% in Q2 2020 over Q1 2020 due mainly to the significant COVID-19 related decline in Personal Consumption Expenditure by 19.6% but also the significant globalisation effect on Capital Investment in Q1 that did not recur in Q2. In 2021, the economy is seen rebounding as global demand recovers from the pandemic. and the seasonally adjusted aggregates for GDP and GNP. Value added of Distribution, Transport, Hotels and Restaurants recorded a decrease of 30.3% in volume terms in Q2 2020 compared with the previous quarter while Professional and Administrative Services contracted 28.2% over the period. The CSO has changed the approach to seasonal adjustment in this Release (see Background notes). The two impacts, the decline in IPP Capital Investment and Imports quarter-on-quarter, are largely offsetting and do not have a significant effect on the GDP growth rates reported. These aggregates have previously been estimated using the direct approach and were separately seasonally adjusted. However these declines are also partially due to COVID-19 effects. On a seasonally adjusted basis, initial estimates indicate that GDP in volume terms decreased by 6.1% for the second quarter of 2020. Revised estimates for the second quarter of 2020 indicate that there was a decrease of 3.0% in GDP in real terms in Q2 2020 compared with Q2 2019. The GDP value of Ireland represents 0.32 percent of the world economy. Factor income outflows were 4.5% lower than in the same quarter of 2019 resulting in a decrease in GNP of 2.5% year-on-year. Ireland GDP (Gross Domestic Product) was INT$346.79billion for 2019 in PPP terms. Government expenditure showed an increase of 7.5% over the same period. Value added of Industry (excluding Construction) rose by 1.5% quarter-on-quarter and Public Administration, Education and Health increased by 0.6% over the same period. While net exports increased €37,820 million in the quarter to give a surplus of €34,533m, this was offset by the falls in Personal Consumption of 19.6% and Capital Investment of 67.4% resulting in an overall decrease in real GDP in Q2 2020 of 6.1%. These preliminary estimates will therefore be revised when the next detailed annual results are published. Ireland Economic Growth GDP is set to contract this year due to Covid-19 and associated containment measures, although fiscal and monetary stimulus should cushion the fall somewhat. Real GNP fell by 7.4% over the same period. Skehard Road, Cork T12 X00E, Ireland, Geographical Profiles of Income in Ireland, Life in 1916 Ireland: Stories from statistics, Ireland North and South - A Statistical Profile, Agriculture Price Indices - Preliminary estimates, Press Statement Postponement of Census 2021, Press Statement Census of Agriculture September 2020 Reminder, Information Note on the Implications of COVID-19 on the processing of Death Certificates, Press Statement COVID-19 Pandemic and the Production of Official Statistics, Turnover for Structural Business Statistics, 2016 - 2018, Labour Force Survey Bulletin: Main Place of Work and Commuting Time in 2019.
Final Domestic Demand decreased by 50.0% in Q2 2020 compared with Q2 2019 while Modified Domestic Demand declined by 15.7% over the same period. Exports decreased by 3.1% which meant that overall net exports for the quarter exhibited a surplus of €34,533m (a change in net exports of €37,820m over the net deficit of €3,286m in Q1 2020). Business Impact of COVID-19 Survey 4 May to 31 May . World … List and ranking of GDP … Year-on-year contractions were also recorded in Professional & Administrative Services (-28.1%), Construction (-34.6%), Agriculture (-46.9%) and Arts & Entertainment (-67.9%). Employment Analysis of … 10Y 25Y Personal Consumption Expenditure (PCE) which accounted for 45.6% of final domestic demand, decreased by 19.6% in the quarter. As some of the available sources are of lesser reliability than those used for the annual national accounts, the quarterly estimates are subject to a greater margin of error than the annual figures. The change in approach will ensure greater consistency between the seasonally adjusted components of GDP such as Personal Consumption, Gross Fixed Capital Formation etc. While net exports increased €37,820 million in the quarter to give a surplus of €34,533m, this was offset by the falls in Personal Consumption of 19.6% and Capital Investment of 67.4% resulting in an overall decrease in real GDP in Q2 2020 of 6.1%. Declines in Personal Consumption, Capital Investment and Imports, increased Govt Expenditure. On the expenditure side of the accounts (Table 7), Capital Investment contracted by 67.4% (-€36.5 billion) in Q2 2020 with a commensurate decrease in Imports of 35.5% (-€41.4 billion) compared with the previous quarter. A potential second wave of virus cases clouds the outlook.