Daily Archives: May 8, 2013

Professors Reinhart and Rogoff were embarrassed by a spreadsheet gaffe. Now statisticians within the Japanese government are smarting, after a private-sector economist pointed out errors that led them to overstate weakness in the economy during the fourth quarter last year.

In an announcement to the Japanese press club on Tuesday evening, the Cabinet Office said that a miscalculation of the value of trade in services between October and December meant that nominal gross domestic product was reported as shrinking by 0.3 per cent, rather than the true figure of 0.1 per cent.

 Read more