Analysis > July 2016

Meaningless economic statistics may cause problems

Ireland’s economy grew by more than a quarter last year – according to official statistics. But should we believe them? The straight answer is that they have been so badly distorted by activities by multinationals they are rendered meaningless. Aircraft bought by leasing companies, multinationals moving assets to Ireland and corporate restructuring have resulted in a dramatic increase in the size of the economy. The figures show the economy grew by a remarkable 26% last year in terms of Gross Domestic …