Commentary: Modernising economic statistics: why it matters

Pub. Date
04 November, 2015

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.