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GDP Miss Far Bigger Than Announced; Real GDP is 0% Using More Reasonable Deflator

Blair31 Wrote: Apr 28, 2012 1:25 PM
Up until the 1990s, we used GNP, not GDP, which was the first we'd used it.

The Advance Estimate for Q1 GDP came in at 2.2%, down from 3.0% in the previous quarter, and below most mainstream media estimates of 2.5%.

However, my friend BC notes ....

The GDP deflator is reported to have averaged 1.2% annualized in the past 2 qtrs. Had the trend rate from '11 persisted, the deflator would have subtracted 2.6% annualized from real GDP, resulting in a 2-qtr. growth of real GDP of 0%. 

ECRI's Achuthan would appear correct that a recession were imminent instead of looking like a dummy.

Rick Davis at the Consumer Metric Institutes makes a similar calculation.

In their "advanced"...
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