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Commentary: Modernising economic statistics: why it matters
External Authors
Coyle, D
Related Themes
Macro-Economic Dynamics and PolicyJournal
National Institute Economic Review
Publisher
Sage Publications, London
External Resources
Issue
234
There are two kinds of questions about the effectiveness with which economic statistics currently perform the functions we need. One is whether the collection and sampling methods used by statistical agencies, and the categorisations they use, have kept pace with changing business and consumer behaviour and habits. The other is whether statistical definitions and conventions – notably real GDP growth as now defined and constructed – remain useful indicators for economic policy and accountability.
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