I have always noted myself how the quoted margin of error in quarterly GDP numbers made a mockery of the number and in my view rendered the value of those...
I have always noted myself how the quoted margin of error in quarterly GDP numbers made a mockery of the number and in my view rendered the value of those numbers meaningless. Thus, the following extract from the Financial Times made me smile; A series of efforts to overturn accepted thinking were underway this week. Top of the list was the Greek government, attempting to dispel any remaining doubts about its credit-worthiness. It will have been pleased with its efforts - its first bond issue in four years raised €3bn at a coupon of 4.95%. It was not the only government asking investors to look again. Nigeria made a play for recognition as Africa's biggest economy by changing the way it calculates its GDP. Thanks to the change, the country's GDP almost doubled to $509bn. Probably, why the market is a little skeptical of Chinese GDP numbers! Full report: (VIEW LINK)
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