Business Bytes: How accurate is the first estimate of GDP?
KNOWING how the economy is performing is of critical importance to business and economic policymakers in the Treasury, Bank of England and elsewhere.
But accurately collating huge amounts of data to distill down into a figure for quarterly GDP growth - and doing so within four weeks of the end of the three-month period it assesses - is a mammoth task.
The desire for speed and accuracy puts pressure on the number-crunchers at the Office for National Statistics (ONS). Do their preliminary estimates stand the test of time?
That estim... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
