THE INCREDIBLE SHRINKING LAND:

New GDP calculation likely to show shrinkage (Japan Times, 11/20/04)

The government is maintaining its bullish view on the economy even though the real gross domestic product is projected to have shrunk in the third quarter with the adoption of a new GDP data calculating method, the economic minister said Friday.

The Cabinet Office said Thursday it will adopt a new method beginning with revised data for the July-September quarter due out Dec. 8.

Using the new method, the preliminary real GDP growth in the quarter comes to an annualized 0.1 percent shrinkage -- the first economic contraction in six quarters -- against 0.3 percent growth as earlier reported.

While folks go whistling past the graveyard...

Posted by Orrin Judd at November 19, 2004 11:21 PM