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Hilarious Charts Of The Day: Imf's "growth Forecasts" Over Time

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Those charts have a similar profile to the charts of parallel lines predicting recovery for the Greek economy.

..........., last year, this year, next year, sometime, never.

It's still amazing how their predictions are announced on the TV and radio with the greatest pomposity as if their predictions are ever correct.

Edited by billybong

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I don't understand what the lines are showing? Can anyone explain, please?

They're showing that the IMF doesn't have a clue.

Basically, each line is a different prediction by the IMF at a different time. They make a prediction in, say, 2009, that there will be an upturn in 2011. Then, in 2010, they 'adjust' the prediction to 2012, when they realise/acknowledge that it isn't going to happen in 2011. Rinse and repeat.

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Whilst downgrading the rest of the world they have been humiliated into raising their GDP forecast for the UK from 0.9% to 1.4% for 2013 in a matter of weeks. Be it suspect growth backed by folk pre-empting HTB2. Humiliating because they gave Osborne a lecture on austerity in the summer.

Don't know why combined growth of 1.1% for Q1 and Q2 plus potential quarterly growth of 1.2% for Q3 totalling growth of 2.3% over 9 months gets us to 1.4%. I can only assume that the annual GDP figure compares output for the whole of 2013 against the whole of 2012 as opposed to Q4 2013/ Q4 2012. I asked this question on housepricecrash on another thread and would be glad if someone could fill me in?

Edited by crashmonitor

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