Thursday, March 27, 2008
Another surprise today @ 12:30 GMT?
U.S. Economy Probably Expanded at Slower Pace in Fourth Quarter
- The deepening housing slump brought U.S. growth to a near standstill in the fourth quarter and has now probably tipped the world's biggest economy into a recession, economists said ahead of a government report today. - Gross domestic product advanced at a 0.6 percent annual rate in the last three months of 2007, matching the weakest pace in five years, according to the median projection of economists surveyed by Bloomberg News.
Posted by 51ck-6-51x @ 11:53 AM (697 views)
4 thoughts on “Another surprise today @ 12:30 GMT?”
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51ck-6-51x says:
0.6% would be the same as Q4-2007. Are the economists actually predicting that the Bureau of Labor Statistics is going to fudge GDP to be 0.6% or are they being optimistic? Maybe this is just a realisation of the observation of Laurence J. Peter, who stated “An economist is an expert who will know tommorrow why the things he predicted yesterday didn’t happen today
51ck-6-51x says:
* Labor is the American spelling of labour, and is correct in context, tommorrow was a typo ;p
51ck-6-51x says:
‘Twas 0.6%… maybe the economists knew that the Bureau of Labor Statistics would massage the numbers?
crash bandicoot says:
It probably works in the same way that the BBC can normally “guess” what the MPC are going to do with interest rates.