Wednesday 28 October 2009

Dubai official statistics clearly in need of revision (Re-post)


It was hard not to miss this headline today in Gulf News: ‘Dubai’s GDP rises 0.3% in first quarter despite the global downturn’ according to figures released by the Dubai Statistics Centre.

Lest we forget the comparative period is Q1 2008 when the Dubai economy was overheating with a massive real estate and construction boom and traffic gridlocked at rush hour.

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