Perhaps, like financial statements for US utility companies, government accounting statistics should...
Perhaps, like financial statements for US utility companies, government accounting statistics should be taken with a pinch of salt. The preliminary fourth-quarter US gross domestic product (GDP) figure, announced in January, showed growth of just 0.2%. This was low, but understandably so in the wake of 11 September. In the event, US growth was substantially underestimated. Official figures issued at the end of March showed the US economy had grown by 1.7%. The upward revision was because both the strength of consumer demand and levels of government spending were greater than expected. Of...
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