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US economy shrinks a surprise 0.1% in fourth quarter
wotsthat
Posts: 11,325 Forumite
http://www.bbc.co.uk/news/business-21261323
Analysts on Wall Street expected the figure to be 1.1%. Ouch!
The US economy unexpectedly shrank at an annualised rate of 0.1% in the fourth quarter of 2012, initial official estimates indicate.
If confirmed, it would be the first contraction logged by the US economy since the 2009 global recession.
Analysts on Wall Street expected the figure to be 1.1%. Ouch!
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Comments
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First France is bankrupt and now US GDP falls.
It's all Cameron and Osborne's doing.If I don't reply to your post,
you're probably on my ignore list.0 -
Ouch indeed, but it show's, yet again, that the economists & analysts are generally talking out of their backsides, are pretty clueless, and have been especially so over the past few years since the global financial crisis started.There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0
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Proof that rising house prices do not lead to economic recovery.0
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They were about 1% out, which given the size and complexity of what they are measuring is a pretty good estimate. anything +-2% is basically flat line.0
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Mallotum_X wrote: »They were about 1% out, which given the size and complexity of what they are measuring is a pretty good estimate. anything +-2% is basically flat line.
It's quite a poor estimate when you consider that the experts were making their predictions only 24-48 hours before the release.
Most people who contributed to the MSE predictions thread for UK 2012 GDP growth were within +/- 2% a full year ahead of time.0 -
Bang! There goes the theory that state spending is the answer... Or that it's going to be a quick and easy recovery.0
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So no austerity, tax rebates and loads of QE and they still have negative growth? What was labour saying again?0
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So no austerity, tax rebates and loads of QE and they still have negative growth? What was labour saying again?
No one if facing up to the real issue "DEBT"
The true extent of the GFC is still to filtering through. Despite the interventions of the central banks. Which appears to be little more than applying sticking plaster.0
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