Q4 2010 GDP revised to- 2.8%

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

  1. Trajan
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    Trajan conscientia mille testes

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    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
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    william the wie Gold Member

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    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.
     
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  3. Zander
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    Zander Platinum Member

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    Shut up! Everyone knows that the economy is booming, just ask a Democrat. :lol:
     
  4. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    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
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    william the wie Gold Member

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    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
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    Polk Classic

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    The GDP figures are calculated in real dollars, not nominal terms.
     
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  7. Trajan
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    Trajan conscientia mille testes

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    you're right. a number should never be preceded by a sign that can denote value. much obliged. ;)
     
  8. uscitizen
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    uscitizen Senior Member

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    Are not inflated dollars still dollars?
    If the price of of food and energy rise does not the GDP rise?
     
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  9. xsited1
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    xsited1 Agent P

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    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
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    skeptic BANNED

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    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.
     

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