| Location: | CSO Teams |
|---|---|
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Date: |
Tuesday 09 December 2025 |
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Present: |
Thomas Conefrey (CBI), Stephen Byrne (CBI), Eamonn Sweeney (DFIN), Oisin Tarrant (DFIN), Loretta O’Sullivan (EY), Kevin Timoney (UL / Davy), Sinead Ashe (IFAC), Chirs Smart (LDA) CSO: Kieran Culhane, Clare Sullivan, Brian King, Rachel O’Carroll, John Flannagan, Kieran Healy |
1. The format of the meeting was a questions and answers session regarding the Quarterly National Accounts and International Accounts followed by a presentation from Kieran Healy in the CSO Prices division.
2. The increase in modified intangibles this quarter was largely due to investment in domestic software and machinery and equipment driven by the purchase of aircraft. There was also high Research and Development (R&D) service exports. Most of the capital formation is driven by multi-national enterprises (MNEs).
3. Contract manufacturing in the context of international accounts refers to companies based in Ireland who purchase unfinished goods abroad and also process them further abroad.
4. Compensation of employees (COE) at constant prices in the context of national accounts is calculated based on the COE, which uses the Revenue PAYE Modernisation (PMOD) data, and actual hours worked from the Labour Force Survey (LFS). The indicator measures labour input at constant compensation and as such includes quantity changes and compositional effects between sectors. It is a macroeconomic indicator measuring the change in labour input due to labour quantity and composition of the workforce. It is not a measure of real wages.
5. Kieran Healy from the CSO prices division presented an update on work related to residential zone land, commercial real estate indicators and upcoming Consumer Price Index (CPI) and the Harmonised Index of Consumer Prices (HICP) reclassifications to ECOICOP Ver 2.
6. Stakeholder engagement in regard to residential zone land has already commenced.
7. Additional detail regarding the CPI will be included on PxStat.
8. An update on the GNI* subgroup was provided and plans are to arrange another meeting in the future.