The latest figures from the Central Statistics Office show that the economy performed strongly again in the second quarter of 2006 - boosted by strong personal consumption and a still booming construction industry.
The figures show that Gross Domestic Product - the value of all goods and services produced in Ireland - moved forward at an annual rate of 5% compared to the same time last year.
The CSO said that Gross National Product, which excludes the income earned by foreign multinationals based in Ireland, jumped by 9% in the months from April to June.
Today's figures reveal that consumer spending rose by 6.7% in the second quarter of 2006 compared to the same time in 2005. However, capital spending was down 2.2%.
The CSO also said that net exports were worth €131m less in the second quarter of 2006 compared with a year ago.
EBS report warns of mortgage rises
A report from EBS building society predicts that by the end of this year typical new mortgage repayments will have risen by 50% in 18 months.
The figures also show that working couples in Dublin spend 37% of their disposable income on mortgage repayments.
Nationally, couples are using up to 25% of their joint income to pay for their homes.
