On a seasonally adjusted basis, initial estimates indicate that Irish GDP (gross domestic product) in volume terms increased by 1.9% for the second quarter of 2015 according to the CSO today. Growth in GNP (gross national product) also increased by 1.9% in this quarter. GDP rose by 6.7% year-on-year and this follows from an annual growth rate of 7.2% in the first quarter of the year.