by Mike ‘Mish’ Shedlock
Mish Talk
Bloomberg reports Ireland Stuns World With 26% Economic Growth Rate.
Irish gross domestic product rose 26.3 percent in 2015, compared with a previously reported 7.8 percent, the Central Statistics Office said on Tuesday, adding that the revisions are partly linked to firms relocating to Ireland. Tax inversions artificially inflate the size of Ireland’s economy as all global profits may be counted as part of the nation’s gross national income when the headquarters of a group of companies becomes resident. Since 2008, corporate relocations have boosted that gauge by about 7 billion euros ($7.8 billion), according to Finance Ministry estimates.