Friday, February 26, 2016
GDP Gets Surprise Upward Revision
GDP was unexpectedly revised to a 1 per cent annualised climb in the fourth quarter from 0.7 per cent, the Commerce Department said this morning.
A downward revision to 0.4 per cent had been forecast by Keynesian econometricians.
GDP is my least favorite indicator, but still you don't see this kind of activity in this number during the down phase of the business cycle.
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