Tuesday, 29 September 2009

GDP again

This story gets itself rather confused. My italics.

UK growth falls less than thought [UK growth falls less than thought would make sense only if growth was say 0.8% in Q1, then though to be 06% in Q2, but in fact was 0.7%. They really should say UK GDP falls less than thought, or if that is too technical, 'national income']

The rate of contraction of the UK economy in the three months from April to June has been reduced again. [this is right]

Gross domestic product (GDP) [growth] has been revised to a fall of 0.6% compared with the last quarter, up [you know what they mean here - up as in less of a decline - but it looks a little odd, I think 'better' is better] from the previous estimate of 0.7%.

The figures were revised upwards last month, from a 0.8% decline, according to the Office for National Statistics. [this is OK, but 'The figures have already been revised from a larger 0.8% decline' is better]

Many other countries, including Germany and Japan, emerged from recession in the second quarter [Again OK but perhaps 'saw positive growth in the second quarter' would be more accurate].

Tuesday, 7 April 2009

No, UK production has shrunk the most in 40 years

Sigh, yet another example of this common error.

Sunday, 25 January 2009


Every taxpayer in the country has lost almost £40,000 since the onset of the credit crunch, as plunging house prices and the savage sell-off in stock markets have obliterated £1.2 trillion of Britain's national wealth.

No they haven't. If we take the figures as correct, then some have lost more than £40,000, some less. On average the loss is £40,000. This is not nit-picking, the statement 'every taxpayer has lost' is pretty definitive, and entirely wrong.