The economy grew by 10.8% in GDP terms in the first three months of this year but shrank by 1% when measured by Modified Domestic Demand, which more closely tracks the domestic economy, new Central Statistics Office figures show today.
On an annual basis, Modified Domestic Demand is up just over 11% compared to the first quarter of last year and up 11% in GDP terms.
The disproportionate effect of the multinational sector on Ireland's national accounts can create a confusing picture of what is really going on in the economy.
Based on GDP, the growth in Ireland's economy in the first three months of this year was twice as fast as the next nearest EU country.