Wednesday, May 18, 2011
Japan - GDP
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.
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)
They both work the same way when prices stop rising, though.
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