Like Reporting Fahrenheit As Celsius
So why then do American media outlets report for example France's fourth quarter growth rate as 0.6% while European media outlets report America's fourth quarter growth rate as 5.7%? For both American and European readers this creates the misleading impression that growth in the U.S. was nearly 10 times higher, whereas in reality it was only about 2.3 times higher. When reporting about European numbers, American media outlets should "translate" them to the American way of expressing growth, which in the case of France would have been about 2.4%, while European media outlets should "translate" the American growth number into the European way of expressing growth, which in this case would have been 1.4%?
For me and many others who are aware of this issue, this is not really a problem, but most people will probably be misled by the failure of financial journalists to not only fail to translate the numbers, but also not inform readers of this issue.
For those of you (whether you are financial journalists or not) who are unfamiliar with the differences in how growth is presented in America, Europe and China, see my previous post on the subject for a thorough explanation.