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About LinkBacksFrom CSO figures, growth contracted by 1.5% in Q1.
Were the recent ESRI figures of a 0.5% contraction in 2008 optimistic?
See also
From CSO figures, growth contracted by 1.5% in Q1.
Were the recent ESRI figures of a 0.5% contraction in 2008 optimistic?
See also
Find more of my (inconsequential) opinions here:
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GNP which is the income attributable to Irish nationals grew by 0.8%.
Phew CH, that's a relief, heaven forbid anyone might think these figures are as catastrophic as they look.
And people wonder why Cowen and Lenihan even publicly are looking like they have just soiled their pants?
Listen when it gets to the stage that Freedomlover no longer even participates in these discussions, you know we are ************************ed and dont need CSO or ESRI to confirm it.
Oh and btw CH.
Your boys created this unholy mess now have the decency to own up to it and try and clean it up.
If Groat was -1.5 % for the first Quarter I would hate to guess what the figure for the third Quarter will be.
Fianna Fail will allow the Irish People, to me milked like Milch Cows, by the CIF through high house prices, rents, and land prices, at the expense of competitiveness,and quality of life. FF+CIF=1
Dumping the Euro for an older currency is hardly a solutionOriginally Posted by mairteenpak
[color=#0000FF]+5.75[/color] [color=#BF0000]+1.13[/color]
I was going to predict growth for the current quarter but i better not - You quote economic facts regarding the Irish economy or property market on this forum and the usual bunch of head in the sand crackpots call you a doom monger, cheerleader for recession or worse !
Strange thing is, it's the head in the sand mentality that has got us into this mess in the first place !
Au contraire, I've allready made 3 posts on other related threads since the CSO figures came out at 11am.
You must have me mixed up with Kerrynorth. He's completely disappeared from this site and Property Pin since the figures came out. He's even disappeared from the threads he opened earlier this morning when he was confidently expecting today's figures to confirm a recession. That in itself tells us all.
For the record, today's GDP/GNP figures show the following:
(a) GDP for 2007 revised up by 2.6%
(b) GNP for 2007 revised up by 2.1%
(c) GDP growth rate for 2007 revised up from 5.3% (previous estimate made in March) to 6.0% - you might recall that 6.0% is exactly the figure Dan McLaughlin forecast in mid-year last year. He was bang on. ESRI and Davy forecast 4.5%. They under-estimated GDP growth in 2007 by 1.5%.
(d) Figures confirm NO recession up to Q1 2008 - whether you take GDP or GNP as the measure, there were NOT two quarters of negative growth
(e) GNP up 0.8% year-on-year and 0.9% quarter-on-quarter - GNP an all-time-high in real terms in Q1 2008
(f) UCD estimate made in March last (by Prof Antoin Murphy I think) that GNP had fallen by 4% between Q3 2007 and Q1 2008 completely wrong - GNP up by 0.2% in that period.
This can't be true, FF is in charge, and they are just fantastic on the economy, that's why we elected them you see, because they brought us the celtic tiger.
I'm sure everything is fine.
Signed, Universal (LGBT...QRSTUVWXYZ)
I love the way government spokes people did not mind using the GDP comparison over the last few years when it was flying. It has dropped by 1.5% yoy. This means less total revenue in the coffers.
The GNP figure of up 0.8% is encouraging but based on current trends elsewhere it would be surprising if that level of growth could be maintained for the other 9 months of the year.
There are a lot of bad indicators out there and little sign of things getting better in the short term with the mess that financial markets are in. Even exports which was supposed to be our shining light has suffered badly.
These figures only relate to first quarter. consumer sentiment and retail sales have fallen since then. Exports flat when global trade has been growing at 10% PA is shocking. Industry flat/declining. Construction in meltdown. I can't see anything good on economic front at present. We are in a near perfect storm of economic turbulence..
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