jetpack domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php on line 6131updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php on line 6131avia_framework domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php on line 6131I would note that it is only GDP that has been revised down – not growth in consumer prices. As a result, a downward revision doesn’t immediately tell us that the output gap is larger. Instead, potential output could be lower.
This is why, when looking at output gaps in real time, I prefer to look at CPI and UR figures instead of GDP figures – GDP is constantly revised, and a small open economy suffers from external shocks to potential all the time.
The fact that current economic momentum is a bit weaker than previously estimated might make a rate cut slightly more likely.
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http://ricardianambivalence.com/2012/05/15/snail-flys-past-kiwi-on-the-gdp-revisions/
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