Wednesday, 6 May 2009

The so-called experts surprised again

That brave band of 
economic forecasters have done it again. The Australian Bureau of Statistics retail sales figures out today have left them looking foolish. The 18 "experts" paid by banks and other financial institutions surveyed by Bloomberg predicted a modest sales gain in March of 0.5 per cent. The actual ABS figure at 2.2 per cent was more than four times higher. 
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