Wednesday, January 26, 2011

I liked the comment: ‘let loose the printers of war…’

A shock and a salutary lesson

THE decline in Britain's fourth quarter GDP of 0.5% was a nasty shock for the markets (in the US, that figure would have been reported as an annualised 2%) and a reminder that economists are pretty hopeless at forecasting. Often, the most startling numbers are revised on second estimates - but it is hard to see how that can be turned into the expected 0.5% increase.

Posted by rental john @ 03:43 PM (703 views)
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