Pathetic Predictions

On 4/30/14 Q1 GDP (which ended a month earlier) was estimated at 0.1%. On 5/29/14 it was revised down to -1.0%, and on 6/25/14, three months after the end of Q1, it was knocked down to -2.9%! The difference between the first and the third estimates of Q1 GDP is three percentage points, or $125 billion; the annual GDP of New Zealand! The takeaway, trust economic forecasts at your peril!

Share This Post
Facebook Twitter Email

Speak Your Mind


This site uses Akismet to reduce spam. Learn how your comment data is processed.