3 ms·
The decline was only 1.2%, 4.8% is after a 4x "annualizing" multiplier.
by syncsynchalt 6y ago
The decline was only 1.2%, 4.8% is after a 4x "annualizing" multiplier.
- cs702 6y agoOf course. 4x to anualize a quarter. To guesstimate for just one month, we need 12x, i.e., multiply by another 3x. And of course, all this ignores compounding, seasonality, etc. The point I was tying to make -- and evidently, I did a poor job at articulating it -- is that the annualized rate of GDP change for the quarter understates the economic shock in the month of March. And April is likely worse than March.