The Central Statistics Office has said it will establish a consultative group to examine "how best to provide insight and understanding of all aspects of the Irish economy".
This follows widespread criticism of the measurement of GDP growth of more than 26% for last year, with the ESRI suggesting the realistic growth level was closer to 5% or 5.5%.
Taoiseach Enda Kenny said today in the Dáil the numbers can be exaggerated and that "they don't reflect accurately what is happening in the Irish economy".
The Assistant Director General with responsibility for Economic Statistics at the CSO, Jennifer Banim, said the CSO intends to "convene a high-level cross sector consultative group to examine how best to provide insight and understanding of all aspects of the Irish economy".
She said that "due to the highly globalised nature of our economy, GDP and GNP do not always help to understand what is happening in the domestic economy".
The group will seek to develop existing indicators, identify where additional detail would help to improve insights, and look at the potential of new indicators.
However, Ms Banim added that "the CSO, like all national statistical institutes, must publish the key economic indicators of GDP and GNP in accordance with the international rules".
