It doesn't add up

The Observer reports today that the BBC's overall share of viewers dropped from 38.3 per cent in 2003 to 36.62 per cent in 2004, a fall of just under 4.5 per cent.

Duh, not when I went to school it wasn't.

I suppose what they mean is that the BBC's share of audience has fallen by about 1.7% from 38.3 per cent to 36.62 per cent, and that 1.7% fall represents a loss of about 4.5% of the BBC's previous share of 38.3%.

Sounds to me like the Observer has been listening to spin from ITV.