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Was misinvited to an economist's presentation at our Bank this morning, and the economist said that the Gross Domestic Product figures are now BS, because there are no real figures on comsumer spending on services by quarter, only annual extrapolations. In short, a "plug" number.

That surprised me. Should I have been surprised? Half the GDP of 3.7% is based on that "consumer speding on services" number...

Step forward, analysts.

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