If you were already skeptical of the quarterly GDP reports as the basis for making informed decisions about investing and business strategy, yesterday’s article from Floyd Norris at The New York Times is sure to increase your suspicion that these figures are of dubious value. Norris digs a bit deeper into the strange case of a reported 2.9% contraction in Q1 while “employers hired more people than in any quarter over the last six years, signaling gathering strength in the economy.”
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