World Economy

Irish Economy Surges 26%

Irish Economy Surges 26%Irish Economy Surges 26%

Ireland’s economy grew an incredible 26.3% in 2015, according to new data released by the country’s Central Statistics Office on Tuesday, Business Insider reported. GDP growth was revised upwards from 7.8% at the previous estimates, to more than 26% at the final reading after the country received “more complete and up to date data” about its finances. “Gross domestic product increased by 26.3% over the same period. The present release is based on more complete and up to date data than that which was available when the Q4 2015 estimates were published in March 2016. The 2014/2015 volume changes indicated at that stage were GDP (7.8%) and GNP (5.7%),” a release from the CSO said. The absolutely incredible rise in GDP came as a result of a combination of one-off factors, including aircraft purchases, corporate restructuring and companies relocating assets to Ireland. Every single sector of the economy grew in 2015, the stats show, with the building sector growing an astonishing 87%.