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Thread: Central Bank revises down growth for 2010 in Quarterly Bulletin

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    Politics.ie Member Dreaded_Estate's Avatar
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    Default Central Bank revises down growth for 2010 in Quarterly Bulletin

    http://www.financialregulator.ie/pub...0Q4%202010.pdf

    CB revises down growth for 2010

    Quarterly National Accounts data point to a decrease in GDP, in seasonally
    adjusted terms, of 1.2 per cent during the second quarter of this year,
    following an increase of 2.2 per cent in the first quarter. For 2010 as a
    whole, GDP is forecast to increase in real terms by 0.2 per cent. GNP,
    however, is expected to decline by about 1.7 per cent. The prospects are
    for growth in GDP terms of about 2.4 per cent next year with GNP
    increasing by about 1.7 per cent.

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    Fcks sake... no surprises tho
    We need to radically change every system that has enabled the wholesale destruction of the Irish landscape, rural and urban. There is no time for incremental step by step measures. The systems have failed utterly and the only hope for a real recovery requires the rule book to be torn up completely.

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    Politics.ie Member Dreaded_Estate's Avatar
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    CB predicts GDP growth of 2.4% in 2011 against budget projections of circa 4%.

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    Quote Originally Posted by Dreaded_Estate View Post
    CB predicts GDP growth of 2.4% in 2011 against budget projections of circa 4%.

    Can anyone really take their projections seriously now? Every time they project they get it wrong. It sounds more like a projection from the Ministry of Spin.

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    Politics.ie Member HarshBuzz's Avatar
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    Quote Originally Posted by Dreaded_Estate View Post
    CB predicts GDP growth of 2.4% in 2011 against budget projections of circa 4%.
    what about GNP? that has to shrink again next year given the deflationary effect of the budget
    “'retail deposit flight, I don't see that as a great danger. Ireland is an island” - Brian Lenihan - to hundreds of international investors

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    another corner turned...

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    Yeah but what colour is the invisible unicorn?

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    Lovely. How much do these clowns get paid for a 169 Page report full of dartboard econometric models and fancy pants euphemisms for "We are so f***ed?"
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    Politics.ie Member libertarian-right's Avatar
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    Up and down like a yoyo these estimates.

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    Politics.ie Member gijoe's Avatar
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    We will have 3 straight years of negative growth - this really is a deep depression. I would not rule out 2011 seeing negative growth as well with the Eurozone, US and UK economies rapidly cooling in tandem, the Euro appreciating, and up to another €4.5billion being taken out of the domestic economy in the budget. I do not see much growth coming from any of above.......

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