This entry was posted
on Thursday, November 8th, 2012 at 11:15 am and is filed under Uncategorized.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
One Response to “CSO: Institutional Sector Accounts (Non-Financial and Financial)for 2011”
The Commission is presumably well aware of the distortions caused by MNCs to GDP data an in any case forecasts domestic demand in the Irish economy. So it can be judged on the multiplers it uses for domestic demand.
Last year it was forecasting a cumulative declne in domistic demand over 2 years to 2013 of 0.4%. Now it is forecasting a contraction of 2.9% over the same period. This suggests that its own multipliers are something of an underestimate, to say the least.
At least there is a modicum of honesty, or even a reality check at the IMF.