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Wed 12 Dec 2009CSO survey shows that falling wages may make economy more competitive
ANALYSIS:THERE WAS a moment of sweet irony at yesterday’s press conference on the ESRI quarterly economic commentary when the realisation dawned that the CSO data on earnings and labour costs, released an hour earlier, had undermined their estimates.
Normally, one would regard this as unfortunate and commiserate with the affected party. History, however, ruled this out. Irish economists typically wait for the quarterly CSO national accounts before updating their growth forecasts. They have good reason to do so for the ground can shift radically.
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