June 2, 2011
Following the second update of Q1 GDP, which came in unchanged at 1.8, Rick Davis, the founder of Consumer Metrics Institute, posted an analysis of the update that included an interesting observation on the BEA technique for calculating Real (inflation-adjusted) GDP from the nominal figures. The Bureau of Economic Analysis (BEA) uses its own price deflator to make the adjustment. More…
LEE ADLER