| Table 1.1 GDP and GNP at constant 2024 prices, Q1 20261 | ||
| Amount €m | Quarterly % change | |
| Gross Domestic Product | 136,592 | -7.0 |
| Gross National Product | 117,736 | 6.8 |
| Modified Final Domestic Demand | 74,616 | 0.3 |
| 1Constant Market Prices, chain linked annually and referenced to year 2024, seasonally adjusted | ||
Updated estimates for the first quarter of 2026 indicate that GDP fell by 7.0% in real terms in Q1 2026 compared to the previous quarter while GNP increased by 6.8%. Modified Domestic Demand, a broad measure of underlying domestic activity that covers personal, government and investment spending grew by 0.3% in Q1.
| GDP | GNP | MDD | |
| Q1 2024 | 2.63550355549058 | -2.57370914684422 | 0.240856313036986 |
| Q2 2024 | -0.047731310666288 | 6.22621228579636 | -0.065703798984329 |
| Q3 2024 | 7.59577690220439 | 0.252691018920381 | 1.12770719705035 |
| Q4 2024 | 1.55178254104376 | -5.29381983590733 | -0.506972688305563 |
| Q1 2025 | 6.92080601896132 | -2.57564217628724 | 2.60924126687836 |
| Q2 2025 | -4.35337583005118 | 4.0742600442162 | 2.24103815893508 |
| Q3 2025 | 1.25531776286674 | 8.54614143207397 | 0.182575447034727 |
| Q4 2025 | -3.5912800967098 | -3.77381218120054 | 0.592748528023246 |
| Q1 2026 | -6.98730470040213 | 6.7505876030534 | 0.295706052273403 |
Get the data: NAQ03
| Industry (excl. Construction) | Information & Communication | Professional, Admin & Support Services | Distribution, Transport, Hotels & Restaurants | Public Admin, Education & Health | Real Estate Activities | Financial & Insurance Activities | Construction | Arts, Entertainment & Other Services | Agriculture, Forestry & Fishing | |
| Q4 2025 | 41.540627617 | 33.3900377939 | 16.3008385426 | 13.5767259878 | 13.4140038736 | 8.2220506205 | 6.1520030833 | 3.9578116144 | 1.5474554952 | 1.5449329072 |
| Q1 2026 | 36.539183623 | 32.7356985059 | 16.4574121424 | 13.4994535902 | 13.2370286704 | 8.2239617016 | 5.9780015321 | 3.7864194724 | 1.4519585738 | 1.4857258465 |
| Industry (excl. Construction) | Information & Communication | Professional, Admin & Support Services | Distribution, Transport, Hotels & Restaurants | Public Admin, Education & Health | Real Estate Activities | Financial & Insurance Activities | Construction | Arts, Entertainment & Other Services | Agriculture, Forestry & Fishing | |
| Q4 2025 | 51.563496659 | 31.0104853963 | 14.4333151307 | 13.6241680443 | 12.1629397147 | 7.7745433319 | 7.2966735126 | 3.612162101 | 1.3951426808 | 1.1963374083 |
| Q1 2026 | 33.5316818075 | 30.3951458534 | 14.6461991646 | 13.6476217268 | 12.1535001056 | 7.7478425932 | 6.8878578929 | 3.6538038242 | 1.3337418492 | 1.1332893271 |
Get the data: NAQ02
The MNE dominated sectors of the economy contracted by 7.5% in the first quarter of 2026. The Industry (excluding Construction) sector fell by 12.0%, while the Information & Communication sector fell by 2.0% in the quarter. Overall, the non-MNE sectors expanded by 0.1%. The Professional, Administrative & Support sector grew by 1.0% while the Real Estate Activities sector was largely flat. All other sectors posted contractions including Arts & Entertainment (-6.2%) and Construction (-4.3%). (See Tables 2.5 and 6.3).
| Personal Consumption Expenditure | Government Expenditure | Gross Fixed Capital Formation | Value of Physical Changes in Stocks | Net Exports | Modified Final Domestic Demand | GDP | |
| Q1 2024 | 39.5289044418 | 14.1984252843 | 29.3357432787 | 1.3855662657 | 50.4892178662 | 69.9845176547 | 134.6915902844 |
| Q2 2024 | 39.7555035252 | 14.3157487985 | 13.0531059186 | 1.9038286349 | 64.8727160233 | 69.9385351679 | 134.627300223 |
| Q3 2024 | 39.7194843962 | 14.3219248869 | 31.8083378252 | 2.094141016 | 53.8270965191 | 70.7272370625 | 144.8532895974 |
| Q4 2024 | 40.1983242633 | 14.6478314989 | 28.0009004781 | 1.0697521674 | 64.3671337137 | 70.3686692874 | 147.1010976555 |
| Q1 2025 | 40.3271817085 | 14.7295291335 | 45.7667406737 | -3.9164161629 | 57.5231777326 | 72.2047576454 | 157.281679276 |
| Q2 2025 | 40.9319520139 | 14.8791603361 | 31.0761941997 | 2.8528739121 | 65.3569470639 | 73.8228938168 | 150.4346166653 |
| Q3 2025 | 40.8914810651 | 14.8840551885 | 33.0680713619 | 4.7734189331 | 55.643715541 | 73.9576762952 | 152.3230491298 |
| Q4 2025 | 41.162380488 | 14.8486417363 | 31.6528048608 | -2.3347984909 | 61.005300287 | 74.3960593328 | 146.8527017837 |
| Q1 2026 | 41.4999300394 | 14.8896414345 | 31.4757015212 | 5.7651144371 | 38.2095277914 | 74.6160529829 | 136.5916560493 |
Get the data: NAQ03, NAQ04, NAQ05
On the expenditure side of the accounts (Table 3.5), Exports decreased by 8.4% in Q1 2026 compared with Q4 2025 while Imports increased by 2.4% which meant that overall net exports for the quarter contracted by 37.4%. Capital Investment increased by €7.9 billion during the quarter (a 27.0% increase quarter-on-quarter) with the Capital Formation element decreasing by €0.2 billion (a 0.6% decrease quarter-on-quarter) driven by lower levels of investment in Machinery & Equipment compared with the previous quarter. Personal Consumption Expenditure grew by 0.8% in Q1 2026 compared with the previous quarter, while Government Expenditure on Current Goods and Services rose by 0.3% quarter-on-quarter. These impacts when combined resulted in an overall decrease in Real GDP in Q1 2026 of 7.0%. Final Domestic Demand grew by 0.2% in Q1 compared with the previous quarter, while Modified Domestic Demand grew by 0.3% over the same period.
| GDP | Net Factor Income from Rest of World | GNP | |
| Q1 2024 | 134.6915902844 | -31.4293260085 | 103.2562104422 |
| Q2 2024 | 134.627300223 | -24.885555859 | 109.6851613026 |
| Q3 2024 | 144.8532895974 | -34.8929084374 | 109.9623258543 |
| Q4 2024 | 147.1010976555 | -43.0206714199 | 104.1411184362 |
| Q1 2025 | 157.281679276 | -55.8228634091 | 101.4588158669 |
| Q2 2025 | 150.4346166653 | -44.8421048022 | 105.5925118631 |
| Q3 2025 | 152.3230491298 | -37.7064518611 | 114.6165972686 |
| Q4 2025 | 146.8527017837 | -36.5615196244 | 110.2911821592 |
| Q1 2026 | 136.5916560493 | -18.85517102 | 117.7364850293 |
Get the data: NAQ03
Factor income outflows fell by 48.4% in the quarter, a fall of €17.7 billion in money terms compared with the previous quarter, leading to an increase in GNP of 6.8%.
The calculation methods for quarterly accounts are similar to those used in the Annual National Accounts. 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. These preliminary estimates will therefore be revised when the next detailed annual results are published.
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