| 5.8°C Dublin

Close

Premium

David Chance: Policymakers are still in the dark when it comes to forecasting in era of Covid

Close

Reading the signs: Knowing which economic indicators to trust is a balancing act

Reading the signs: Knowing which economic indicators to trust is a balancing act

Reading the signs: Knowing which economic indicators to trust is a balancing act

Irish policymakers hoping to map a path to recovery from the deepest recession in history are scrambling for new ways in which to make sense of a rollercoaster ride of economic data.

Last week's report of a record rise in Irish retail sales for the month of June gave rise to renewed talk of a "V-shaped" rapid economic recovery here.

That optimism was punctured just a few days later when US gross domestic product (GDP) data showed the economy had contracted by an eye-popping 32.9pc on an annualised basis in the second quarter of this year.