The headline told readers that: "Thailand GDP Grows 3.6% in the Fourth Quarter." How many readers knew that Thailand's economy had grown at an impressive 15.2 percent annual rate in the fourth quarter? Yes, the NYT once again reported a quarterly rate of growth. It is unlikely that many readers recognized that this was a quarterly rate, since it is customary to report GDP growth at annual rates in the United States. The reporter could have quickly converted the growth rate to an annual rate by taking 1.036 to the fourth power.
--Dean Baker
