The Central Statistics Office (CSO) has insisted that its measure of growth in the Irish economy is accurate. Following a report in the Irish Banking Review which suggested that growth could be overestimated, the CSO has insisted that gross national product data is reliable.
According to the CSO, it updated its methodology two years ago to take into account the impact of multi-nationals on the statistics. All profits of multi-nationals are now restricted to wage bills and linkages with local suppliers. "The GNP growth rates are therefore a satisfactory measure of real growth in the Irish economy," it stated.
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