Thursday 22 February 2018

Poor figures make it hard to keep our side of IMF bargain

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.

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