April 29, 2016
USA Today: Eurozone growth rate unexpectedly doubles
The eurozone's economic growth rate doubled in the first three months of the year compared to the fourth quarter — to 0.6%, the Eurostat statistics agency said Friday.
As impressive as doubling to a whopping 0.6% growth rate must sound, there is a much more impressive statistic here that the article's headline completely ignores.
Eurostat said in a separate report that consumer prices in the year to April fell by 0.2%. That’s down from the previous month’s annual rate of zero.
If 0.3% to 0.6% is worth a double, then what is 0.0% to -0.2% worth?
0.6% / 0.3% = Double
-0.2% / 0.0% = Negative Infinity
To negative infinity and beyond! Woohoo!
I mean, really. If you want to use statistics to make a sensational headline, then I say go all out!
Q1 GDP Tracking: Movin' on Up
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From BofA:
Since our update last week, *1Q GDP tracking is up two-tenths to 2.1% q/q
saar*. [Apr 19th estimate]
emphasis added
From Goldman:
We left ou...
7 hours ago
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