Emer Walsh: Recession? What recession? Why Ireland's GDP continues to mislead

GDP is an accurate indicator for countries such as Germany and Britain but not for Ireland, where modified domestic demand is a more true reflection of the economy

Ireland’s economy is like no other in Europe. Most other countries employ gross domestic product, or GDP, as the measure that is best suited to track growth and contractions in their economic activity.

However, a myriad of specific factors has made the GDP measure a tad misleading in an Irish context.