Ireland’s economy contracted by 7.0% in the first quarter of 2026, extending a 3.6% decline in the previous quarter, according to revised data. The globalized Industry sector contracted by 12.0% from Q4 2025, while Information & Communication declined by 2.0%. Overall, the multinational-dominated sector fell by 7.5%. Domestic demand, however, showed resilience: Modified Domestic Demand (MDD) rose by 0.3%, driven by a 0.8% increase in personal spending. Domestic-focused sectors expanded by 0.1%, with Professional, Administrative & Support growing by 1.0%. Trade dynamics shifted, with exports falling 8.4% and imports rising 2.4%, leading to a 37.4% drop in net exports. Capital investment surged 27.0%, reflecting higher stock values, while government spending increased by 0.3%. Gross National Product (GNP), excluding multinational profits, rose by 6.8%, supported by a 48.4% decline in factor income outflows.