Poor figures make it hard to keep our side of IMF bargain
Published 25/03/2011 | 05:00
SEVERAL European economies contracted or slowed significantly in the final quarter of 2010 but the reason was obvious enough -- snow.
Back home, the reasons for the contraction of gross domestic product (but not gross national product) were less easy to understand than a spot of bad weather.
Indeed, the complete absence of any talk about our harsh winter when the Central Statistics Office (CSO) unveiled quarterly growth figures yesterday was a reminder that it hardly matters whether it is snowing or not when you export sunglasses.