Tom McDonnell (NERI), Ian Power (DoF), Annette Hughes (DKM), Philip Economides (ESRI), Niall Conroy (IFAC), Austin Hughes (KBC), Loretta O’Sulllivan (BOI), Michael Connolly (CSO), Christopher Sibley (CSO), Ruth O’Shaughnessy (CSO), John Sheridan (CSO), Peter Culhane (CSO), Yvonne Hayden (CSO).
Seamus Coffey (UCC), Diarmaid Smyth (BOI)
1. Michael Connolly gave an update on the recent National Accounts releases. It was agreed that further information on the methodology behind elements of consumer spending would be presented at future MSLG meetings. The ongoing requirement for the suppression of sector-level data due to secondary confidentiality guidelines was discussed.
2. Michael Connolly presented an update on the ESRG recommendation of the breakdown of non-financial corporations into LCU / non-LCU in the annual Institutional Sector Accounts, due for publication later in the year. Peter Culhane gave an overview of the breakout of sector S1M (Households and NPISH) into S14 (Households) and S15 (NPISH) in the forthcoming publication.
3. John Sheridan gave an overview of the estimation of renovations in the National Accounts. The various data sources used in the compilation of renovation data were discussed, and further details will be provided at the next meeting.
4. Christopher Sibley presented details from a recent publication: “National Balance Sheet for Ireland 2015”. This information note has been compiled from existing CSO publications and addresses the recommendations of the ESRG to help explain the dynamics behind IP and how it is financed. Links to the relevant tables on Statbank are included.
5. A forthcoming information notice – “Explaining Ireland’s Trade” – was also distributed and discussed. This notice explains in detail the difference between cross-border trade in goods, published on a monthly basis, and quarterly data which includes goods traded cross-border and on a change of ownership basis, along with all service trade.
6. The CSO advised that the Output Method approach for GVA in the sector accounts at current prices by activity is due for transmission to Eurostat imminently, and a publication will follow.