Tuesday, May 25, 2010
GDP revised up
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

In the grand scheme of things, with markets in turmoil, a small upward revision in Britain's first quarter GDP growth from 0.2% to 0.3% does not mean that much. Still, it is a step in the right direction, and won't be the last such revision. Consumer spending was flat and service sector growth slipped from 0.5% to 0.2%. Exports also stagnated, while imports rose by 1.4%. Some of these numbers should look a little better in the second quarter. More here.