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Strategies & Market Trends : Ask DrBob
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To: lifeisgood who wrote (41575)7/29/2001 3:00:13 PM
From: westpacific   of 100058
 
GDP has been revised down for years now:

There's more bad news. As well as the second quarter figures, the Bureau
of Economic Analysis on Friday announced downward revisions to GDP growth
for 1998, 1999 and 2000, of 0.1 percent for 1998, 0.3 percent for 1999 and
0.7 percent for 2000. These revisions may sound moderate, but they go
straight to the question of whether the much vaunted "productivity miracle"
was real, because they revise output downward while keeping labor input the
same, thus in 1999 and 2000's case revising the 2.8 percent and 4.2 percent
productivity growth in the years to 2.5 percent and 3.5 percent.
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