Tag Archives: 26.3%

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Yikes.

View CSO figures in full here

Boeing.

Ge Capital Aviation Services?

UPDATE:

During RTÉ’s News at One, RTÉ’s Business Editor David Murphy spoke to Audrey Carville about the figures.

From the interview…

Audrey Carville: “David, has it really grown by so much?

David Murphy:No. I think the issue here is Audrey, that what’s happened is that when the CSO does its figures it has to take account of what companies are doing. And, normally, if a company invests in an asset like a factory then that will result in more employment and boost the economy. So those assets are very important. But what’s happened is that a number of large, international companies have bought aircraft, they’ve done corporate restructuring and some companies have located assets to Ireland for the first time. And as a result, it’s had a one-off effect on the balance sheet of the entire country and it’s distorted the figures for the entire economy quite significantly. Showing that the economy, on the face of it, would have appeared to have expanded by 26% last year. Now, were that to have happened, in reality, people would be feeling 26% richer but they’re not.”

Listen back in full here