Tuesday, Dec 09, 2008
can anyone shed light on why or how the ONS can alter old figures?
reuters: Bleak winter ahead as economy gloom grows
The ONS also revised down output in previous months. Other things being equal, that would mean gross domestic product (GDP) contracted 0.6 percent in the third quarter instead of the 0.5 percent fall initially reported, it said.
Manufacturing output fell much faster than expected -- 1.4 percent on the month -- and for the eighth month running. This was the biggest drop since March 2005 and marked the longest stretch of declines since 1980.
Posted by mark @ 02:16 PM (238 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. drewster said...
Government statistical agencies usually revise their figures as more data becomes available. Measuring the economy is like trying to work out which way you're travelling when staring out the back of a bendy bus. You have to constantly revise the figures until the direction becomes clear, with a lag of up to two years depending on the data.