MaxedOutMama
Wednesday, May 18, 2011
Japan - GDP
There are two kickers here. The first is that the contraction in the fourth quarter of 2010 was originally reported to be slight - 0.3 on a quarterly basis, or about -1.1% annualized - but was revised down to -3.0%.
First quarter 2011 is being reported at -3.7% annualized, or -0.9 quarterly, which is quake affected. However it appears quite likely that second quarter will contract another 3%. You will note that economists expected a considerably better result.
First quarter 2011 is being reported at -3.7% annualized, or -0.9 quarterly, which is quake affected. However it appears quite likely that second quarter will contract another 3%. You will note that economists expected a considerably better result.
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They should just start out with the revisions.
Would save everyone some time.
Sporkfed
Would save everyone some time.
Sporkfed
# posted by 
: 8:22 PM
: 8:22 PM
What, they couldn't get any growth even with all those broken windows? No wonder the economists were surprised.
Japan distracted me from Canada momentarily! Oh the humanity!
Is there a bubble? No there's not, it's just underlying confidence. - Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada (May 18, 2011)
Is there a bubble? No there's not, it's just underlying confidence. - Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada (May 18, 2011)
Underlying confidence is very different than irrational exuberance!
They both work the same way when prices stop rising, though.
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They both work the same way when prices stop rising, though.
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