GDP up 6.7% in first half of 2007.

[freedomlover]

CSO figures just out show that in the first half of 2007 GDP was 6.7% higher than in the first half of 2006. Over the same period GNP was up 5.7%, bang in the middle of the range predicted here by Ard-Taoiseach. Hardly any of the increase in output came from construction. Most of it came fom manufacturing, from exports and from personal consumption. In addition, the balance of payments deficit fell sharply in the second quarter of 2007. The David McWilliams bubble is about to burst.

http://www.cso.ie/releasespublications/ ... nt/qna.pdf

[gosimeon]

Excellent figures. This just confirms that the negative pillocks - lead by their God McWilliams - are completely out of touch with reality.

What is most encouraging about the figures announced is that construction isn't playing a prominent role in growth. This is important, and very positive.

Here's to even better figures and more growth in a few months.

[zakalwe]

meaningless...GDP is not a reliable measure of economic performance.

what are the GNP figures?

[supamolli]

meaningless...GDP is not a reliable measure of economic performance.

what are the GNP figures?

GNP is up 5.7% for the first six months of 2007.

[rockofcashel]

is that "real" GDP, or "nominal" GDP ?

It looks less impressive when the current rate of inflation for the same period was 5%

[freedomlover]

is that "real" GDP, or "nominal" GDP ?

It looks less impressive when the current rate of inflation for the same period was 5%

Its real GDP and real GNP.

[rockofcashel]

can you provide a link to that source for verification

[supamolli]

is that "real" GDP, or "nominal" GDP ?

It looks less impressive when the current rate of inflation for the same period was 5%

Irish inflation using the eurozone's preferred HICP method was 2.3% in August, just above the target 2% ceiling.

[freedomlover]

can you provide a link to that source for verification

I gave a link in the opening post for this thread. The inflation rate is irrelevant to these figures.

[rockofcashel]

is that "real" GDP, or "nominal" GDP ?

It looks less impressive when the current rate of inflation for the same period was 5%

Irish inflation using the eurozone's preferred HICP method was 2.3% in August, just above the target 2% ceiling.

Don't start that nonsense with me. This has started to become the "preferred" method of reporting inflation figures by Government, because it excludes costs of housing, and is generally well below the usual method of calculation of inflation from the CPI...

Cut the spinning...

as for the original posting, I looked up the CSO website myself, (from where I get updates regularly by e mail, everyone interested should log in), and I've seen some inconsitencies with the figures in the OP

According to the CSO website

GDP increased 5.4% in Q2 2007, not 6.7% as was quoted.

GNP increased 4.5% in Q2 2007, not 5.7% as was quoted.

Could the original poster now edit their incorrect information.

The link can be found here..

http://www.cso.ie/

They might also wish to note that when seasonally adjusted, the GDP figures actually fell by -1.4% and GNP fell by -0.9%

The major rises in the figures came from increased consumer spending (up 6.1%), which could possibly be attributed to the maturing of the vast majority of SSIA accounts, and increased Capital Investment (up 6.5%), which could in part be attributed to the huge increase in Government Capital spending in the months running up to the election in May.

Output of Industry (including Construction), increased by 1.1%