aust interest rates cut, page-29

Hi George,

The monthly increase was 1.7% in factory orders. Annualised, this is 20.4%. Compounded, this is 22.4%.

May be statistics, damned lies and the like, but nonetheless, a 1.7% monthly increase, if sustained over a period of 12 months, will result in a rather sizeable boost to the economy.

Also, this rate of pace, if continued through Q3 and beyond equates broadly with a 4%+ growth velocity in US GDP.

And, never mind the TMS.