The UK economy contracted by more than previously thought between July and September and growth has been weaker than estimated throughout much of the past year, official data has revealed. According to new figures released by the Office for National Statistics (ONS) on Dec. 22, the UK’s GDP fell by 0.3 percent in the third…
What Does It Mean to Be a Rich Nation?
Commentary I’m sitting at the bar at a restaurant in the center of Mexico City, a country ranked 71 in the list of nations in GDP per capita. Most people in the United States would call it poor. And of course Americans are somehow under the impression that the place is dangerous, which, so far…
German GDP Growth Raises Hopes of Less Severe Recession
BERLIN—The German economy grew slightly more in the third quarter than suggested by preliminary figures on the back of consumer spending, adding to signs that a coming recession will not hit as hard as initially feared, data showed on Friday. Europe’s largest economy expanded by 0.4 percent quarter on quarter and by 1.3 percent on…
Into a Global Debt Crisis
Commentary There have been three major sovereign debt crisis episodes during the past 200 years. The first one occurred after the Napoleonic wars between 1827 and 1860. The second one occurred during and after the Great Depression and World War II, and the third one during the era of commodity-price and banking crises from around…
The GDP Offers No Comfort
Commentary After two quarters of decline earlier this year, the nation’s real gross domestic product (GDP) ticked up in the summer quarter. Political needs will point to the news in predictable ways, but practically speaking the modest 2.6 percent annualized growth changes nothing in the underlying economic picture. Things remain weak and on the verge…
Using Night-Time Light Data Researcher Finds Chinese GDP Is Exaggerated by About 35%
November 2, 2022
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autocraciesChinaChina Business & EconomyChinese RegimeFinance & Business TiesGDPNight-time lights (NTL)Special Topics
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The Chinese Communist Party (CCP) has been known to alter its economic data. A study published in October used night-time light to determine that China, as well as other autocracies, overstate their gross domestic product (GDP) growth rates. The U.S. study gathered night-time light (NTL) data from satellites and used that to measure the exaggeration…
Using Night-Time Light Data Researcher Finds Chinese GDP Is Exaggerated by About 35 Percent
November 2, 2022
admin
autocraciesChinaChina Business & EconomyChinese RegimeFinance & Business TiesGDPNight-time lights (NTL)Special Topics
0 Comment
The Chinese Communist Party (CCP) has been known to alter its economic data. A study published in October used night-time light to determine that China, as well as other autocracies, overstate their gross domestic product (GDP) growth rates. The U.S. study gathered night-time light (NTL) data from satellites and used that to measure the exaggeration…
The US Economy Isn’t Stronger, It’s Fatter
Commentary The headline gross domestic product (GDP) figure for the third quarter seemed to signal a return to growth and a significant improvement from the previous readings. Real GDP increased at an annual rate of 2.6 percent in the third quarter of 2022, in contrast to a decrease of 0.6 percent in the second quarter,…
GDP Print at 2.6 Percent Is Largely From Inventory/Exports Anomaly
GDP printed at 2.6 percent Thursday morning, just slightly above the consensus estimate of 2.4 percent. I had estimated the GDP to print at 2 percent, plus or minus 0.5 percent in my September jobs report. As we predicted, the current positive report is largely attributable to a reversal of an anomaly with imports clearing the ports that…
GDP Print at 2.6% Is Largely From Inventory/Exports Anomaly
NEW YORK—GDP printed at 2.6 percent Thursday morning, just slightly above the consensus estimate of 2.4 percent. We had estimated the GDP to print at 2 percent, plus or minus 0.5 percent in our September jobs report. As we predicted, the current positive report is largely attributable to a reversal of an anomaly with imports clearing the…
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