Correction

Several readers recently pointed-out that the quarterly statistics for GDP growth in Germany and the USA cited in our recent posting Amerikanische Verhältnisse vs. German Conditions were derived using different mathematical approaches. The German numbers on our GDP graph represented actual quarter-by-quarter change while the US numbers represented annualized quarter-by-quarter change. Several commenters correctly observed that, because of the different methodologies used to derive the statistics, our comparison was one of apples and oranges. We have therefore replaced the original graphic with a more accurate, updated version that compares annual GDP change in both nations since 1998. We want to thank our readers for their valuable input. The fact that several of you were savvy enough to catch such a fine distinction is testament to the quality of our readership.

Comments

[Sandy P]

Our #s are better and so is our frame of mind, another standard complaint of Americans via Bros. Judd:

Poll finds Americans are happiest people on the planet

http://www.americasnewspaper.com/bottom.shtml

You guys are a bunch of sour-pusses.

...While 56 percent of Americans say things are better than in 2000, the number stands at 57 percent in Britain, 60 percent in Sweden and 63 percent in Ireland.

Still, Americans lead in their optimism parade, with two-thirds — 65 percent — expecting life to get better by 2010.

The number was 58 percent in Ireland, 56 percent in Spain, 55 percent in Britain, 51 percent in Sweden and 47 percent in France. At rock bottom was Germany: Only 23 percent expected some improvement — while 26 percent think things actually are going to get worse.