Latest data reveal tentative signs of recovery

Two of the key economic releases that provide the most accurate picture of what is happening on the ground in the economy are those relating to tax receipts and employment creation.

Every economic activity attracts a tax bill, so the more activity there is, the more tax is collected. In relation to employment, hiring extra workers is obviously a sign that business is improving. Hence, it gives a good indicator of what is going on at both a sectoral and national level.

Yesterday, the CSO released the Quarterly National Household Survey relating to employment creation in the economy in the three months to the end of June. Thankfully, this report presents more good news.