A preliminary estimate from the Central Statistics Office shows that the country's gross domestic product grew by 2% in the third quarter from the previous three months, but was 1.2% lower than the same quarter last year.
The CSO said the "moderate" quarterly growth was driven by an increase in the multinational dominated sectors of Industry and Information & Communication during the three months of July, August and September.
The Government has long cautioned against using GDP to accurately measure economic growth as it is routinely inflated by multinational activity, but the measure is used to calculate Ireland's share of activity across the euro zone.
The CSO said that looking at the first nine months of 2024, the economy contracted by 3.3% in GDP terms.
The CSO said today's preliminary results are subject to revisions in the Quarterly National Accounts release, which will be published in early December when additional data sources are available to the statisticians.
The results will be further updated following the release of the Annual National Accounts for 2024, it added.
