.comment-link {margin-left:.6em;}
Visit Freedom's Zone Donate To Project Valour

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.

I offer a musical tribute in honor of the economists.
They should just start out with the revisions.
Would save everyone some time.

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)
Underlying confidence is very different than irrational exuberance!

They both work the same way when prices stop rising, though.
Post a Comment

<< Home

This page is powered by Blogger. Isn't yours?