Thursday, October 29, 2015

GDP, + 1.5 or - 1.5?

Inventory Correction Masks Resilient Demand in U.S. GDP Report - Bloomberg Business:

Buried in the news is the 3Q first GDP picture ... a very tepid 1.5% growth as reported. In reading the story though, it sounds like the greatest 1.5% growth possible -- not to worry, the BO economy should not be maligned!

Completely missing is the fact that this is now the 2nd installment of the "New Math" of GDP .... supposedly giving it something like a +3% boost over what the "old tired GDP number" used for decades past reported. If that +3% is accurate, we shrank at 1.5% ...

Not to worry ... just listen to the TP media. Things are great!

'via Blog this'

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