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8 comments on The Bullroarer - Thursday 19th June 2008
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8 comments on The Bullroarer - Thursday 19th June 2008
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Not all Economists are making accurate pronouncements.
As I mentioned in yesterday's Bullroarer, the No.2 headline above "Oil imports fall as drivers change road behaviour" is completely bogus.
The Australian Bureau of Statistics monthly petroleum import numbers show wide month-by-month variability. The May 07 figure is randomly high and the May 08 figure, while low, does not represent an exceptional downward movement. (Nov 05 was lower, for example.)
Commsec is having a lend of us, for some reason, and the ABC is shovelling it straight through to us.
It is certainly *not* a statistically significant trend of -28%, and does *not* disprove the (as the ABC puts it)
A link to the ABS data is http://abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/5439.0May%202008?OpenDoc....
Thanks for this observation - it supports some speculation that a friend made yesterday.