Revisions possible to National Accounts

People may be aware that the CSO amended their price deflator, and in doing so revised downwards previous consumer spending statistics. As Finfacts points out below, this may also cause revisions in previous national account statistics. So the downturn may get downturnier.

So the 20% odd spending growth may have been 17% and if it falls to 0 it will fall from 17% to 0 (and not 20% to 0 ) .

The downturn may therefore be “upturnier” in fact .

I thought I was meant to be the bull on this site :laughing:

I’m confused. Does this mean price inflation has been understated in recent times? :open_mouth:

Isn’t that the whole point?

They pulled the same trick a couple of years ago by changing the methodology for collating crime statistics.

Ah, I see. Smokes and daggers to pretend Everything Is Wonderful. Typical.

I’ve come across people like that in a work setting as well. I just can’t get my head around the mentality. Problem crops up, but instead of getting to the core of the matter and fixing the problem, huge amounts of time, effort and money are spent on obfuscation, denial, deliberately-confusing spin and re-arranging the deckchairs.

Twould be quicker and easier for all concerned to just do the damn job properly. I dunno, humans eh?