Oireachtas Joint and Select Committees

Thursday, 4 December 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Fiscal Assessment Report - November 2014: Irish Fiscal Advisory Council

2:20 pm

Dr. Donal Donovan:

This area is, as we all recognise, very unclear, but I will give the Deputy my understanding of it. For some years the general methodology - it is a worldwide methodology and the IMF is more of less the guardian of how these things are calculated - has been to include contract manufacturing, in principle, in the way in the way the figure is represented in the national accounts in Ireland. What has changed, however, is the size of the activity which has, as our chairman said, suddenly exploded in the first six months of the year. There is a table in the report which shows that up to now on a net basis contract manufacturing more or less represented a small plus or minus, but suddenly it went up dramatically and accounted for growth of about 2.5%.

Comments

No comments

Log in or join to post a public comment.