DUBLIN (Reuters) - Ireland's gross domestic product fell 8.5 percent in the first quarter of 2009 from a year ago, performing better than analysts had expected, data from the Central Statistics Office showed on Tuesday.
The January to March performance compared with a revised annual decline of 8 percent in the fourth quarter and marked a further deterioration for the former "Celtic Tiger" economy, which is expected to be the worst performer in the industrialised world this year.
Economists had forecast a 9.1 percent drop in GDP for the first quarter, on a median basis. The lowest forecast was for a 12.2 percent fall.
Gross National Product (GNP) dropped 12 percent in the first quarter from a year ago. GNP had been expected to fall 9.8 percent in the first three months of the year.
GNP is seen as a more accurate measure of the performance of the domestic economy because it excludes profits earned by multinationals who have a big presence in Ireland.
Ireland revised down its estimate for 2008 GDP to -3 percent from a preliminary -2.3 percent.
(Reporting by Carmel Crimmins and Andras Gergely)
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