At no time did the Minister for Finance criticise the National Statistics Office during the debate held on TV last Tuesday, the ministry said in a statement this evening.

It was replying to criticism by the Nationalist Party.

Attempts to interpret his remarks on the reliability of two specific surveys as criticism directed at the Office are solely intended to gain political mileage, the ministry said.

The minister appreciates the hard work undertaken by the NSO staff, and their ability to keep up with the heavy demands in spite of their limited resources.

This notwithstanding, it is common knowledge in economic circles that there are certain economic indicators which are less reliable than others. The monthly manufacturing and retail industry indicators fall without a doubt in this category.

 

There is ample proof that they bear no resemblance to GDP data, which is published on a quarterly basis, the ministry said.