Apple’s Sales Are Messing Up Economic Data All Over The World...In A Good Way

Monday morning, the U.S. Census Bureau will publish the September retail sales statistics. Economists expect a gain of 0.7 percent. Among other things, economists have to consider the impact of Apple's iPhone 5, which went on sale in September. Indeed, the iPhone 5 is so big that JP Morgan economist Michael Feroli estimates that it'll boost Q4 GDP by 0.33 percentage point...... The iPhone is already affecting data in other parts of the world. This past weekend, China reported a surprisingly strong acceleration in exports thanks to a couple of non-recurring items..... "We believe the release of iPhone 5 was the major cause behind the sudden pick-up of Taiwan’s trade activity with the mainland," writes Societe Generale economist Wei Yao. "These idiosyncratic factors are unlikely to repeat and China’s export growth is unlikely to rise persistently to year-end."....................................................................................................................... Read more: http://www.businessinsider.com/iphone-sales-impact-global-economic-data-2012-10