May I remind people that immediate numbers on GDP are grossly innacurate, so much so that if a reported 4.2% growth (annualised or otherwise) is stated for the immediate prior period, knocking off the 4 will give you a more accuare figure.
That 4% is the standard error on immediate GDP guesses, or it would be if the error were standardly distributed. It is not, the vast majority of estimates are over and 4% is the average over estimate.
That 4% is the standard error on immediate GDP guesses, or it would be if the error were standardly distributed. It is not, the vast majority of estimates are over and 4% is the average over estimate.
Urbs Antiqua Fuit Studiisque Asperrima Belli
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