So.. there is a lot of (self)congratulatory backclapping, cheering, smugness and so forth about how Ireland is out of recession. Again.
The thing is, we really should by now have gotten used to the volatility of the quarterly GxP figures. The rise in GxP this time was due, in part, to the inclusion of some of the shadow economy. But hey, lets not quibble. Shadow, dark, black, its all part of the economy.
We have however been here again. This is the fourth time since the depths of the crisis that we have seen year on year percentage growth.
We know the metaphysical issues about the sound of one hand clapping. What about four hands clapping, perhaps on empty air?