"While the headline GDP figures can overstate activity in the Irish economy, domestic measures such as modified domestic demand clearly indicate that the economy continues to perform strongly," Donohoe said in a statement.

"We must remain vigilant. The Irish economy faces a number of significant risks, in particular the potential fallout from Brexit, with the probability of a no-deal Brexit having risen of late, as well as increasing trade protectionism and potential overheating as the economy approaches full employment."