Ireland Economy Expands 1.5% In Q3

(RTTNews) - Ireland's gross domestic product grew in the third quarter from the previous three months as the country exited a bailout.

Gross domestic product increased 1.5 percent from the second quarter, when the economy grew 1 percent. The latest growth is the fastest since the first quarter of 2011.

The news of faster growth comes as the country successfully exited an EU-IMF sponsored bailout last week. The latest data have added to the signs of economic recovery taking hold.

Industry, which includes building and construction, rose 2.2 percent. Consumer spending grew 0.9 percent and investment surged 10.9 percent. However, exports declined 0.8 percent year-on-year.

Yesterday, the Economic and Social Research Institute forecast 0.3 percent growth for this year and 2.7 percent for 2014.