Work carried out by the Irish Fiscal Advisory Council (IFAC) estimates the economy may have shrunk by between 15-20% year-on-year in April.
Using a model based on the Purchasing Managers Indices, which are industry sentiment surveys, IFAC correlates the results with GDP.
This fall in GDP is for one month and does not indicate what it could end up being in the year as a whole.
The Department of Finance has forecast that growth in the economy could fall by over 10% this year.
It has forecast a significant fall in the second quarter of the year followed by a recovery over the summer.
IFAC has said considerable uncertainty continues over what course the economy will take. It is expected to publish its response to the Department's Stability Programme Update at the end of this month.
Official figures on GDP will be published later this year.
Early estimate of what happened in the economy in April: https://t.co/NfTpvRxZqg— Robert Shortt (@RobertShortt) May 13, 2020