Dublin office building in 'bust' phase: ESRI

The market is well oversupplied with activity to decline by almost half next year shaving another 0.6% off GNP and costing 7500 construction job losses.
irishtimes.com/newspaper/fin … 03756.html

Translated from ESRI speak mean that the cost to GNP will be 1.2% and 15k construction jobs will be lost. I started reading today’s IT editorial but stopped when I read the sentance about the ESRI having a good forecasting record. I am sure that they will have much greater accuracy on their 2009 predictions when they issue their final revision on Dec 30th 2009.