CSO figures for Q1 2012

cso.ie/en/media/csoie/releas … q12012.pdf

Of interest to me are the YoY non-chain linked figures - not seasonally adjusted, nominal…

2012 Q1 GDP +4.3% vs 2011 Q1
GNP +3.6%

Since we hear so much about all the terrible austerity we’ve had, could the conclusion be drawn that austerity is working? :nin

ducks behind black swan

For a bit of perspective:

tradingeconomics.com/ireland … wth-annual
I believe this is real GDP growth rate, i.e. inflation adjusted.

This makes me believe that the GDP we currently have is consistent with a sustainable, non-bubble growth level over the past 13 years. That is, there is not going to be a ‘bounce-back’ - we are roughly where we should have been had we not had the bubble. Of course, with a crippling level of state and personal debt…

Indeed! This is what is going to make things worse,no matter what way you look at it.