CSO: Growth figures dubbed ‘leprechaun economics’ do not reflect reality

The head of the Central Statistics Office (CSO) has said its growth figures, which were dubbed ‘leprechaun economics’, do not reflect reality and a new system of measuring the economy is now being developed.

CSO director general Pádraig Dalton added the organisation was “limited in our ability to fully explain the revisions” which showed a staggering 26.3% growth in the economy last year.

The figures released last week have been dubbed “farcical”, with Nobel Prize-winning economist Paul Krugman describing them as leprechaun economics.