First quarter growth in Ireland's domestic economy was revised sharply lower to 0.1% from a provisional reading of 2.7%, partly as a result of revisions further back showing activity was flat rather than falling in the final quarter of 2022.

With Ireland's large multinational sector often distorting gross domestic product, officials prefer to use modified domestic demand to gauge the strength of the economy and a final fourth quarter reading of 0.0%, up from -0.9% previously, meant the domestic economy avoided a shallow recession in 2022.

GDP shrank by 2.8% quarter-on-quarter versus an initial estimate of -4.6%, the Central Statistics Office data showed on Friday. (Reporting by Padraic Halpin; Editing by Alison Williams)