Comments on: Recession Poll http://ozrisk.net/2009/06/03/recession-poll/ Risk Management in Australia Wed, 30 Nov 2011 12:41:58 +0000 hourly 1 http://wordpress.com/ By: Rationalist http://ozrisk.net/2009/06/03/recession-poll/#comment-26948 Mon, 08 Jun 2009 05:02:21 +0000 http://ozrisk.net/?p=612#comment-26948 According to the ABS:

“There are quarterly revisions due to the incorporation of more up-to-date source data and changes to seasonal adjustment factors. The overall effect of these revisions has been to decrease growth in the seasonally adjusted volume measure of GDP in December quarter 2008 by 0.1 percentage points, and to increase September quarter 2008 growth by 0.1 percentage points.”

So both quarters were NOT revised downward, only the December quarter was revised downward while the November quarter went up.

Nevertheless, I am not ruling out future wiggling of figures by the ABS, although a downward revision of more than 0.4% is quite a bit of a wiggle indeed.

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