National accounts confirm GDP at 1.7% y/y

Real GDP grew in real, seasonally adjusted terms by 1.7% compared with the same period of the previous year in the first quarter of 2011.
On a non seasonally adjusted basis, real GDP rose by 1.8% year on year.
The full national accounts data therefore confirmed the headline figure given by the flash estimate last month.
The Statistical Service said that construction and manufacturing continue to “present negative growth rates”.
Positive growth was rates were recorded in the sectors of wholesale and retail trade, tourism, banking and services (public administration, education, health and other services).