Ireland’s economy contracted by 12.1% in the first quarter of 2026, extending a revised 4.2% decline in the previous quarter and exceeding preliminary estimates of a 2.0% drop. Modified domestic demand, a broad measure of underlying activity covering personal, government, and investment spending, grew by 0.6%, while Gross National Product (GNP) increased by 1.5%. The multinational enterprise (MNE)-dominated sectors contracted sharply by 27.1%, with industry (excluding construction) down 35.0% and information & communication down 2.0%. In contrast, non-MNE sectors expanded by 0.4%, with the professional, administrative & support sector rising by 1.5% and construction increasing by 1.2%. On the expenditure side, exports decreased by 7.0%, while imports rose by 4.2%, resulting in a 39.8% contraction in net exports. Capital investment surged 13.8%, though machinery and equipment investment declined. Personal consumption and government spending increased by 0.6% and 0.5%, respectively.