To: Ian@SI who wrote (121648 ) 5/2/1999 2:49:00 PM From: Lee Read Replies (1) | Respond to of 176387
Ian, Re:.If I remember correctly, 4Q GDP was 5.9% bea.doc.gov Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 6.0 percent in the fourth quarter of 1998 RE:.The fed believes that the CPI overstates inflation by at least 1%. i.e. - it does a poor job of accounting for increased quality, function and reliability of a new device compared to that in the CPI base - especially true for any electronic equipment. The BLS has changed the formula for calculating CPI.stats.bls.gov Consumer Price Index Formula Changed On April 16, 1998, the Bureau of Labor Statistics announced its decision to use a new formula for calculating the basic components of the Consumer Price Index for all Urban Consumers (CPI-U) and the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). This change is effective with data for January 1999. it is expected that planned use of the new formula will reduce the annual rate of increase in the CPI by approximately 0.2 percentage point per year. Re:.Re:.continued evidence that there is no inflation for all practical purposes bea.doc.gov The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 1.0 percent in the first quarter, compared with an increase of 0.9 percent in the fourth. 1% is a hefty increase when you consider that it increased each quarter last year by 0.2%, 0.4%, 0.7% and 0.9%. Clearly an increasing series. Just some facts, <g> Like your Dell thoughts and you're correct, bond traders are manic! <vbg> Lee