GDP figures `delayed` convenient?

Silverbull

A "potential error" has forced the Office for National Statistics (ONS) to delay the publication of the latest GDP figures, due on Wednesday.

The very rare move was caused by concerns over the reliability of some of the figures, the ONS said.

It was due to publish the latest revision to the GDP data covering the period between January and March.

The figure is closely watched by economists as an indication of the state of the economy.

The quarterly GDP figures are revised twice at monthly intervals after their initial release.

The latest data was due for publication at 0930 BST. It will now be released on 12 July.

http://news.bbc.co.uk/1/hi/business/10450518.stm


They must be desperate!

They are promoting the country at the G20 and the figures look so bad, I know lets think of something to delay them.

Generali

The Office for National Statistics has just moved from London to Newport prompting a lot of their senior statisticians to quit.

From the BBC in 2007:

http://news.bbc.co.uk/2/hi/business/6642897.stm

The Bank of England says moving the Office for National Statistics (ONS) to Newport in Wales may damage the quality of its economic statistics.

So the Labour Government decided to move the ONS despite being warned that they would lose quality statisticians and find it very hard to replace them. Now the move has happened and the ONS is unable to produce their GDP figure, probably the second most important economic statistic they produce after inflation numbers, on time.

So your starter for 10, no confering. Which Political Party Held Newport East and Newport West in 2004?

chucky

Generali wrote: »

The Office for National Statistics has just moved from London to Newport prompting a lot of their senior statisticians to quit.

From the BBC in 2007:

http://news.bbc.co.uk/2/hi/business/6642897.stm



So the Labour Government decided to move the ONS despite being warned that they would lose quality statisticians and find it very hard to replace them. Now the move has happened and the ONS is unable to produce their GDP figure, probably the second most important economic statistic they produce after inflation numbers, on time.

So your starter for 10, no confering. Which Political Party Held Newport East and Newport West in 2004?

but...... you can be complaining about the size and cost of the public sector and then complain that when something is done to reduce costs that it is wrong... you can't have it both ways...

Generali

chucky wrote: »

but...... you can be complaining about the size and cost of the public sector and then complain that when something is done to reduce costs that it is wrong... you can't have it both ways...

If you move the statistics organisation, it's probably best to move it to a place with statisticians!

Better to do what private companies do, move the processing back office, low skill stuff to cheaper backwaters and keep the high skill stuff in places with the concentration of skilled staff to be able to recruit freely.

1984ReturnsForReal_2

Generali wrote: »

The Office for National Statistics has just moved from London to Newport prompting a lot of their senior statisticians to quit.

From the BBC in 2007:

http://news.bbc.co.uk/2/hi/business/6642897.stm



So the Labour Government decided to move the ONS despite being warned that they would lose quality statisticians and find it very hard to replace them. Now the move has happened and the ONS is unable to produce their GDP figure, probably the second most important economic statistic they produce after inflation numbers, on time.

So your starter for 10, no confering. Which Political Party Held Newport East and Newport West in 2004?

:rotfl:


Even the ONS have said its nothing to with staff..

Keep trying.

Generali

1984ReturnsForReal wrote: »

:rotfl:


Even the ONS have said its nothing to with staff..

Keep trying.

Well the theories we have are:

1. Conspiracy
2. Documented loss of skilled staff

I can feel a poll coming on...

purch

GDP figures `delayed` convenient?

Yes. :eek:

It was pretty clear to the 'powers that be' that you had nothing at all to get your knickers in a twist about today, or to use as a surefire signal to buy more silver.

Therefore it was engineered in a very suspicious fashion for these figures to be delayed, instantly producing an obvious 'kneejerk' reaction from your goodself. ( emphasis on the jerk )

michaels

So after all the excitement Q1 GDP has been revised from +0.3% to....


...wait for it....



...+0.3%


However the overall peak to trough change in the recession has been revised up by a whopping...0.2% to 6.4% from 6.2%. Possibly not one for the conspiracy theorists?

nearlynew

I really don't understand why people pay so much attention to these government statistics.


They are just lies, spin and bullsh1t.

nearlynew

I love rewired