Just a quick note because there are so many things wrong with this paragraph:

The Commerce Department says growth improved from a sluggish 1.1 percent rate in the January-March quarter, which was revised from an initial 1.8 percent rate. The pickup in growth was surprising as most economists predicted a far weaker second quarter.

The growth rate  was officially 1.7% which is apparently quite an improvement over the last quarter which was officially 1.8% until it was revised down today…. wait a minute… huh? Jan-March gets revised way down and that makes it so that Apr-June looks like the growth accelerated. In this case, I think what the economists expected might actually have been right… perhaps this quarter really was way weaker than the last… But way weaker than 1.1% is cutting really close to recession. Does anyone actually know what they do in the ‘seasonal adjustment’?


One response to “1.7%

  1. I believe that the seasonal adjustment is when the bureaucrats tell the truth (or closer to it) late enough in the game that no one is looking and at just the right time to make the current state of affairs look better. Clever!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s