Q4 2010 GDP revised to- 2.8%

Discussion in 'Economy' started by Trajan, Feb 25, 2011.

  1. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,754
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,763
    The initial figure was 3.2%, not exactly a juicy figure to start with, ( Q3 2010 settled at 2.6% btw) 19 months after the end of the recession and I think the final figure with one more 'estimate' to go, will will drop further, matching Q3 at 2.6%. Thud.

    The 'experts ' were expecting an increase by that to 3.3% btw....there goes that.
     
  2. william the wie
    Online

    william the wie Gold Member

    Joined:
    Nov 18, 2009
    Messages:
    9,873
    Thanks Received:
    986
    Trophy Points:
    245
    Ratings:
    +3,355
    Trajan use a colon not a dash for the title. I only replied because I thought you had a major problem and I was wondering if I should PM you. Your title as written indicates a 6% downward revision in GDP.
     
    • Thank You! Thank You! x 1
  3. Zander
    Offline

    Zander Platinum Member

    Joined:
    Sep 10, 2009
    Messages:
    20,243
    Thanks Received:
    7,135
    Trophy Points:
    390
    Location:
    Los Angeles CA
    Ratings:
    +17,351
    Shut up! Everyone knows that the economy is booming, just ask a Democrat. :lol:
     
  4. boedicca
    Offline

    boedicca Uppity Water Nymph Supporting Member

    Joined:
    Feb 12, 2007
    Messages:
    44,872
    Thanks Received:
    13,523
    Trophy Points:
    2,250
    Location:
    The Land of Funk
    Ratings:
    +27,376
    And at least 1.6 points of the total 2.6 was due to inflation (likely more as energy and food price increases are not properly reflected).
     
  5. william the wie
    Online

    william the wie Gold Member

    Joined:
    Nov 18, 2009
    Messages:
    9,873
    Thanks Received:
    986
    Trophy Points:
    245
    Ratings:
    +3,355
    At first I thought the title was a projected Q4 2011 estimate which while theoretically possible using demographic data is a pain in the ass to do with huge margins of error even using supercomputers.
     
  6. Polk
    Offline

    Polk Classic

    Joined:
    Aug 25, 2009
    Messages:
    9,791
    Thanks Received:
    574
    Trophy Points:
    138
    Location:
    Ost
    Ratings:
    +584
    The GDP figures are calculated in real dollars, not nominal terms.
     
    • Thank You! Thank You! x 1
  7. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,754
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,763
    you're right. a number should never be preceded by a sign that can denote value. much obliged. ;)
     
  8. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,940
    Thanks Received:
    4,789
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    Are not inflated dollars still dollars?
    If the price of of food and energy rise does not the GDP rise?
     
    • Thank You! Thank You! x 1
  9. xsited1
    Offline

    xsited1 Agent P

    Joined:
    Sep 15, 2008
    Messages:
    17,750
    Thanks Received:
    5,291
    Trophy Points:
    198
    Location:
    Little Rock, AR
    Ratings:
    +5,303
    Now that's just ridiculous. There is no inflation in America. Otherwise, the seniors would have gotten a cost of living increase:

    No Social Security COLA: How Unfair is That? - CBS MoneyWatch.com
     
  10. skeptic
    Offline

    skeptic BANNED

    Joined:
    Feb 22, 2011
    Messages:
    417
    Thanks Received:
    23
    Trophy Points:
    0
    Ratings:
    +23
    iow in inflation adjusted dollars.

    But there seems to be some kind of dislocation between the official inflation figures and reality. And the CPI is hardly an accurate measure of inflation on it's best day.

    If we are gonna set COLAs based on inflation it seems as if we could develop a truly accurate index. Unless of course "we" would prefer that the public not know.
     

Share This Page