Introduction
The Institutional Sector Accounts presented in this publication provide an integrated macro economic analysis of the Irish economy. Both the Non–Financial and Financial Institutional Accounts are presented on a sector by sector basis and the commentary emphasises the inter-linkages between the two sets of accounts. A number of key indicators, which help to explain the more significant developments which occurred in 2014 and in previous years, are highlighted for each of the institutional sectors.
The analysis has been supplemented with a number of indicators from the EU Macroeconomic Imbalances Procedure (MIP)1. The selected indicators aim to identify the emergence or existence of macroeconomic imbalances in sectors of the economy.
Both consolidated and non-consolidated tables are presented for the Financial Accounts. The consolidated analysis allows a clearer view of transactions and balance sheet positions between institutional sectors. Transactions between entities in the same institutional sector are netted out in this consolidated presentation.
1The MIP Scoreboard is an early warning system consisting of eleven indicators covering the major features of an economy. It acts as a trigger for further in-depth analyses, supplemented by a secondary scoreboard of auxiliary economic and social indicators, For more on this topic see http://ec.europa.eu/economy_finance/economic_governance/macroeconomic_imbalance_procedure/index_en.htm.
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