– Modified domestic demand up 1.5% year on year
– Consumer spending up 1.1% QoQ and 1.3% YoY
– GDP down 1% QoQ and 4% YoY
There’s a reason we don’t use GDP for most purposes.
badger-biscuits on
Keep partying
WearingMarcus on
Ireland in economic depression.
7 year on year contractions on a row.
It’s the 6th quarter contraction in the last 7 quarters…
This is a depression…
dkeenaghan on
Irish **GDP** contracts by 1% in the second quarter.
GDP is not the economy. It is one way of measuring the strength of the economy, and in Ireland’s case it’s not a particularly relevant one to the people who participate in that economy.
5 Comments
This is based on [the national accounts just published](https://www.gov.ie/en/press-release/fea3e-minister-chambers-notes-publication-of-quarterly-national-accounts/).
As usual, headlines do not match reality :
– Modified domestic demand up 1.5% year on year
– Consumer spending up 1.1% QoQ and 1.3% YoY
– GDP down 1% QoQ and 4% YoY
There’s a reason we don’t use GDP for most purposes.
Keep partying
Ireland in economic depression.
7 year on year contractions on a row.
It’s the 6th quarter contraction in the last 7 quarters…
This is a depression…
Irish **GDP** contracts by 1% in the second quarter.
GDP is not the economy. It is one way of measuring the strength of the economy, and in Ireland’s case it’s not a particularly relevant one to the people who participate in that economy.
The end is nigh