Oireachtas Joint and Select Committees

Tuesday, 6 October 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Macroeconomic Forecast for 2016: Department of Finance

5:15 pm

Mr. John McCarthy:

I would point out that there is an important subtlety there in that during the bubble it was all concentrated in one sector whereas now it is much more balanced between the external sector and domestic demand, so it is a better composition of aggregate demand. Even though we are now at pre-crisis peaks, we are in a better space than we were back in 2007.


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