Bad Data Can Lead To Bad Forecasts And Grim ResultsGene Koretz
The welter of economic statistics that emanate from Washington each month provide vital information to business and the public. But because many such initial reports are based on incomplete data and subject to heavy revision, they inevitably entail a risk that economic decisions will be based on faulty information. And if a protracted series of reports are biased in one direction, the impact on the economy could be substantial.
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