UBS On-Air: Market Moves
UBS On-Air: Paul Donovan Daily Audio 'Don’t trust the data (again)'
11 Mar 2024
Japan offered a timely reminder of the unreliability of economic data. Fourth quarter GDP was revised from -0.4% to +0.4%. Admittedly, this is an annualized number, which sensationalizes and exaggerates changes, but it is still a notable revision. The revision was mainly due to stronger investment spending—Japanese consumer spending was revised somewhat weaker.
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