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11/17/09

Chart of the day is....

...Peru's monthly GDP, 2008 to date.

Yesterday the INEI released its latest round of heavily massaged bullshit, yet again insisting that "oh nooo..no recession here....ohhhhhhh no no no no no...whatever makes you think that?" and a 0.04% (!!!) GDP growth for September. A joke for sure, but the time of taking these people serious has long passed already, so it just got a roll of the eyes Chez Otto.

Meanwhile in the real world, Chile noted a 24% rise in export revenues for copper last month. This is the signal that will get GDPs in both Chile and Peru into the believable plus side for the three months that remain in the year.