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RE: Daily Dose of Good News: GDP Grew at 3.2% Annual Rate
Too much noise in the inputs to the GDP equation combined with changing equations make comparison of GDP from year to year next to meaningless.
Too much noise in the inputs to the GDP equation combined with changing equations make comparison of GDP from year to year next to meaningless.
Absolutely. GDP is a rough gauge subject to both manipulation and measurement error...i'll never take the point estimate to heart, but happy when it's growing, everything else equal.