Can someone tell me how I calculate the annualized Australian GDP? If I take the last 4 numbers (0.5, 1.2, 0.2 and 0.7) and calculate what the total increase is then I get the number 2.63 % but on http://www.abs.gov.au/ausstats/abs%40.nsf/mf/5206.0 it is reported to be 2.7 %.
Her are my calculations.
100+100/100*0.5 = 100.5 %.
100.5+100.5/100*1.2 = 101.706 %
101.706+101.706/100*0.2 = 101.909 %
101.909+101.909/100*0,7 = 102.623
GDP increased by 102.623-100 = 2.63 %
What am I doing wrong???
Her are my calculations.
100+100/100*0.5 = 100.5 %.
100.5+100.5/100*1.2 = 101.706 %
101.706+101.706/100*0.2 = 101.909 %
101.909+101.909/100*0,7 = 102.623
GDP increased by 102.623-100 = 2.63 %
What am I doing wrong???
If slaughterhouses had glass walls, everyone would be a vegetarian!