It is a pity he did not keep quiet for a few more hours because it was actually 0.6 per cent. That is a 25 per cent error in his same-day forecasting.
As Hamish McRae says today (28 April), one of the extraordinary features of economists is that it is very hard for them to say even with hindsight why we have recessions in the first place.
A. S. C. EHRENBERG
28 AprilReuse content