15.09.201707:01:00UTC+00Ireland Q2 GDP Expands More Than Expected

Ireland's economy expanded more-than-expected in the three months ended June, after contracting in the previous quarter, preliminary data from the Central Statistics Office showed Friday.

Gross domestic product advanced a seasonally adjusted 1.4 percent sequentially in the second quarter, reversing a 3.5 percent contraction in the first quarter, which was revised from a 2.6 percent fall reported earlier.

Economists had expected a 1.3 percent rise for the June quarter.

On the expenditure side, household consumption dropped 1.1 percent compared with previous quarter, whereas gross domestic fixed capital formation jumped by 39.9 percent.

Exports remained flat, while imports climbed by 12.0 percent.

On an annual basis, economic growth accelerated to 5.8 percent in the second quarter from 5.2 percent in the preceding quarter, which was revised down sharply from 6.1 percent.