International Euro Area Economy
Eurostat lifted euro-area growth to 0.6% on the back of Irish GDP up 10.2%. Ireland's own statistics office says its domestic demand fell
Without Ireland, the euro area grew 0.30% in the second quarter, much as in the first. Ireland's surge came from industry, up 22.1%; the CSO's own measures of the domestic economy fell, GNP by 5.0% and modified domestic demand by 0.8%.
International Euro Area Economy
Take Ireland out of the euro area and the last four quarters look steadier than the headline numbers
Eurostat put euro-area growth at 0.4% for the second quarter. About a third of that came from Ireland, which is 3.5% of the bloc — and the quarter before, Ireland was most of the reason the euro area recorded no growth at all.
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