The BEA’s Radical “Savings Rate” Revision—-Beijing Class Fudgery

Last week, the US Bureau Economic Analysis unleashed some statistical goalseek magic that would make Beijing thoroughly fabricated economic “data” blush for days: as part of the comprehensive GDP revision carried out every five years by the Commerce Department’s BEA, US economic history was rewritten and in a shocking development, the annual saving rate was revised higher by 1.6% on average since 2010, with the 2017 US savings rate doubling overnight, from 3.4% to 6.7%.

 

 

 

https://www.zerohedge.com/news/2018-08-05/us-gdp-turbocharged-after-record-saving-rate-revision-why-could-be-problem