Is (Government) austerity working?

Slí Eile 24/09/2011

Slí Eile: Much has been made of the latest quarterly national accounts data issued by the Central Statistics Office last Thursday here. First the good news: Gross Domestic Product (GDP) is estimated to have increased by 2.3% - in real terms - between the second quarter of 2011 and the second quarter of 2010 (Table 1). Hurray. Next, GDP has …