Thursday, May 26, 2011

GDP Number Overestimated, Not Underestimed, U.S. Growth

When I discussed Caroline Baum's claim that the first quarter U.S. GDP number underestimated growth, I left out her assertion that GDI (Which theoretically should be equal to GDP, but usually isn't due to data collection problems usually formally referred to as "statistical discrepancy") would be stronger than GDP because GDI data wasn't available.

Well, now it is, and it turns out that GDI was even weaker.