GDP ‘a misleading gauge of Irish living standards’

IRISH people are being duped into thinking their living standards are higher than they really are, according to a new report by Davy Stockbrokers.

Davy economist Rossa White said the use of Gross Domestic Product (GDP) figures to measure national income failed to take account of significant distortions caused by the multinational chemical sector.

“GDP is a totally misleading barometer of Irish living standards,” said Mr White. “The implications are important.”