Bundesbank mocks US IT book-cooking

Doug Henwood dhenwood at panix.com
Wed Sep 6 13:29:11 PDT 2000


Michael Pollak wrote:


>[Here's the guess a letter writer to the FT came up with: a US real GDP
>growth rate 1/3 less than that posted for the last two years]

Dunno how Riechebacher - who, I might add, has been predicting disaster for the better part of 20 years, maybe longer - came up with this. Real GDP growth with computers was 5.7% from 99Q2 to 00Q2; it's 5.2% without. With the chained method, components of GDP don't add up to total GDP, so you can't just subtract out computer sales.

Doug



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