Irish economy grew by 12.2% last year despite price squeeze and slowdown internationally

The figures show GDP, the standard measure of growth, grew by an estimated 3.5 per cent in the final three months of last year compared with the previous quarter.Inflation, economic volatility and war displace climate and cyber risks as top threats to businessThe manufacturing sector in Ireland is dominated by pharmaceutical firms, which have continued to trade strongly despite the deteriorating international outlook. Pharma products account for over 50 per cent of the Republic’s goods exports.

“Other metrics mirror this growth, such as very robust goods exports and strong corporation tax receipts last year,” he said. “While set to remain relatively high over 2023, inflation in Ireland appears to have peaked sooner than had been expected, driven by an easing in energy prices, some of which has already been reflected at the pump,” he said.

Source: Financial Digest (financialdigest.net)

HHumphreysFG Growth, but to whose benefit?

Haven't we learned anything

So why is there such a crisis in health and housing? Political will?

Did you make this up as well?

Based on the gains of normal people, or is it based on the imaginary numbers our financial sector is obsessed with that benefit the already rich most of all? Simon Kuznets, the man responsible for our current concept of GDP warned against it's use as a measure of welfare.

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