Friday, January 30, 2009

US GDP down 3.8 percent

The US economy slows at the fastest rate in 26 years.

Ironically, the number was "better than expected"; many economists were expecting a decline closer to 5 percent.

8 comments:

  1. "better than expected" that has me reassured.

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  2. Would've been 5.1 except for a statistical anomaly of counting unwanted increases in stocks

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  3. Im sure the new messiah will sort this all out.

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  4. It's actually 1 quarter at an annualized rate of -3.8%, so in reality down slightly less than 1%.

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  5. Yep, the Yanks seem to annualise almost everything; perhaps because they love large numbers.

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  6. It still confuses me how Brown can claim that America went into recession more than a year ago.

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  7. What about a UK GDP chart. Lets compare and contrast.

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