Tuesday, August 14, 2012

Zero Growth Thanks to Rounding Error

"France Escapes Recession," read one headline. Official growth was 0.0%, thanks to rounding up of -0.045 (although any economist will be guffawing to see growth figures reported to 3 decimal places). In any case, the big surprise was in net exports: up to Germany, down to the rest of the world (largely because imports from the rest of the world increased).

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