Gurdgiev: Irish growth rate increasingly resembles imaginary numbers
ESRI's forecast fails to fully reflect economic uncertainty, writes Constantin Gurdgiev
Ever since the official rebirth of the Celtic Tiger in 3Q 2013, Irish economy has been postinggrowth figures that are increasingly resembling imaginary numbers rather than real increases in the tangible value added.
Over the period of 3Q 2013 through 4Q 2015, average year-on-year growth rates in realGDP have been running at a dizzying 6 per cent, while real GNP growth has been averaging 6.7 per cent per annum. Much of this growth ...