Australia's good GDP growth was a result of the ABS revising the data

Discussion in 'Markets & Economies' started by SpacePete, Sep 8, 2016.

  1. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    WTF does this mean... national income up, GDP reported as being awesome... all because of the ABS including a revision in primary income credits from non-residents?? Huh?

    I guess that fixes the economy then.

     
  2. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    What's the problem, the Bureau of Meteorology do it all the time with climate data?
     
  3. millededge

    millededge Active Member

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    Wonder why the Guardian isn't wading in the weed...not as if they are unfamiliar with it
     
  4. betterinvestmentthanshare

    betterinvestmentthanshare Member

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    Inside the board room where Mathematical Politics is performed.

    Chairman: "Pass the dutchie to the left hand side"
    Treasurer: "Let's roll another number"

    Guardian isn't wading in the weed because.................. it does'nt know how it feels :)

    meanwhile the PM sees "Lucy in the Sky with Diamonds"
     
  5. Golightly

    Golightly Well-Known Member Silver Stacker

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    Wow that graph is convincing
     
  6. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    It's simply a chart of the official ABS numbers:

    March figures,June figures
    Jun-2012,317460,317532
    Sep-2012,317120,317273
    Dec-2012,316940,317136
    Mar-2013,317247,317420
    Jun-2013,318063,318215
    Sep-2013,319167,319341
    Dec-2013,320522,320748
    Mar-2014,321612,321856
    Jun-2014,321854,322063
    Sep-2014,321754,321951
    Dec-2014,321541,321744
    Mar-2015,320612,320790
    Jun-2015,318948,318748
    Sep-2015,317633,317533
    Dec-2015,317149,319050
    Mar-2016,317237,322078
    Jun-2016,null,325326
     
  7. Old Codger

    Old Codger Active Member Silver Stacker

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    Economic data is ALL BULLSHIT!

    OC
     
  8. errol43

    errol43 New Member Silver Stacker

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    Good times==Mining boom=Count in dollar terms=increased GDP

    Bad times=Mining Slump=Count in amount ore and coal mined=increased GDP

    UK Scenario///include prostitution and the drug trade to lift GDP

    Like OC says its all BS.

    Regards Errol 43
     
  9. Stoic Phoenix

    Stoic Phoenix Well-Known Member Silver Stacker

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    Verifies the old adage of "There are 3 types of lies......lies, damn lies and statistics."
     
  10. BBQ

    BBQ New Member

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    ABS.
    Note the BS.

    You can't blame them for living up to their name. Plus we must have thousands of families reliant on the taxpayer-funded theft who are working at the ABS. Do you iz wanting them to haz no jobs? We can't have that, can we? There must be at least 4 billion dollars worth of spin that they aren't counting in the official statistics, so they iz being fair.
     

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