Official inflation is 5%, which is deducted from the 15% to give headline GDP growth of 10%.
He had been frustrated by a sheer lack of opportunity, despite headline economic growth that looked promising on paper.
Headline GDP growth has been rather tepid of late, and falling government spending has actually been a key detractor in 9 of the past 11 quarters (see the graph from Fisher Investments research).
This is in addition to the problematic headline risk caused by the slow pace of economic growth and sovereign debt issues (both in the U.S. and in Europe).
FORBES: AAII Survey: Investors Favor Energy, Commodities, Tech
They may also look at what's happening to Ireland, often held out as the erstwhile Celtic Tiger example of business tax cuts - down to 12.5% headline rate - leading to increased revenue and booming growth rates.
But the most shocking thing about today's release was not the headline figure for the second quarter, which showed annualised growth of 1.3%, well below the consensus of around 1.8%.
Credit Suisse is neutral on Netflix shares (due to valuation concerns and headline risk) despite what it sees as a healthy growth outlook in the Canadian market and beyond.
FORBES: The Netflix Effect: Results From A Revealing Study in Canada
"It's not nICE for the UK economy" was the headline on one City analyst's research note about the bad weather's impact on growth.
Headline risk remains problematic, especially with many individual investors previously concerned about the pace of economic growth and the federal deficit, prior to the start of the current market correction.
FORBES: AAII Survey: What Should Washington Do To Accelerate Growth?
"Going forward, we expect headline CPI to ease further, providing ample room for Beijing to take more policy easing steps to support growth, " HSBC economists led by Qu Hongbin wrote in a report.
The headline: Once a country gets fairly rich (though much poorer than the United States), further economic growth does not seem to make its citizens any happier.
应用推荐