India, June 4 -- Ireland's economy shrank more deeply and faster than initially estimated in the first quarter, the latest data from the statistical office CSO showed on Thursday.
Gross domestic product fell a seasonally adjusted 12.1 percent sequentially in the first quarter, much faster than the 4.2 percent decline in the fourth quarter. In the flash estimate, the rate of fall was only 2.0 percent. Thus, the country continued to remain in recession as the GDP fell for the fourth straight quarter.
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