When iPhones Ring, the Economy Listens

nytimes.com

6 pointsswartkrans3 comments

>He estimates that iPhone sales are adding one-quarter to one-third of a percentage point to the annualized growth rate of the gross domestic product.

That's amazing. This means that iPhones account for 0.25-0.33% of all consumption in the US.

(reasoning behind this: annualized growth rate is (gdp for year / gdp for previous year) - 1, so to account for 0.25 percentage points of growth means to be 0.25 percent of gdp)

Sort of embarrassing they had the picture from last year's keynote listed as the one from this year.

The picture is from this year's keynote, as that's the blue shirt he was wearing this year. He wore a black shirt in 2013. It's just the slide in the background are of the older phones.

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