asked the Taoiseach whether it is intended that Ireland should follow the example of Great Britain and other European countries by publishing quarterly national accounts in full.
Ceisteanna—Questions. Oral Answers. - Publication of National Accounts.
1.
Quarterly national accounts have not yet been developed for this country. While a number of quarterly (and monthly) indicators of economic trends are at present available, they are not sufficient to permit the preparation of the full national accounts. Before this could be attempted it would be necessary to develop reliable statistical series covering the principal items for which quarterly estimates are not now available such as output of agriculture, corporate profits, incomes of independent traders, fixed capital formation, changes in stocks, items (other than merchandise trade) affecting the balance of international payments, etc.
The Central Statistics Office is actively engaged on the improvement of existing statistical series and on the inauguration of new statistical inquiries and, in this context, the possible preparation of quarterly national accounts is being kept in mind. However, the practical difficulties are much more severe than in the preparation of the existing annual national accounts. Apart from the fact that not all the information available for calendar years is available at more frequent intervals the reliability of quarterly estimates must, inevitably, be less than the annual estimates in relation to the size of changes which occur over short periods, and which it is the object of the estimates to measure. Seasonal factors also create difficulties in interpreting the results.
I would point out that very few European countries officially compile quarterly national accounts at the present time.