Oireachtas Joint and Select Committees

Tuesday, 6 September 2016

Committee on Budgetary Oversight

Analysis of Economic Forecasts: Central Bank of Ireland

1:00 pm

Mr. John Flynn:

They relate to the basis on which GDP was calculated. This issue has arisen because the basis on which GDP is calculated has changed, so there has been a move in the statistical methodology to measure GDP from one version of measurement to a new version, which treats things differently. This issue has arisen, essentially regarding 2015, as a result of this.

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