The economy grew by 4.2 per cent in the first quarter of the year (adjusted for inflation), compared with the first three months of 2016, with gross domestic product registered at €2,492.1 million.

This is the third highest rate in the EU, with only Romania (5.6%) and Slovenia (5%) registering more growth.

The National Statistics Office said that the increase was mainly generated by public administration and defence; education; human health and social work activities (7.2%); arts, entertainment and recreation, repair of household goods and other services (+9.1%nt); and professional, scientific and technical activities; administrative and support service activities (+8.5%)

Real GDP growth. Source: National Statistics OfficeReal GDP growth. Source: National Statistics Office

In the meantime, Eurostat report that the seasonally adjusted GDP rose by 0.6% in both the eurozone and the EU28 during the first quarter of 2017, compared with the previous quarter.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.9% in the eurozone and by 2.1% in the EU28 in the first quarter of 2017.

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