Economic statistics: Difference between revisions

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Quantitative information about economic activity and institutions provides the essential basis for economic inference. Its systematic collection in the form of '''economic statistics'''  had its origin in the realisation that it is indispensible to the practice of economic management, the need for which became evident in the course of the [[great depression]] of the 1930s. The  collection, collation and publication  of national economic statistics is usually the responsibility of independent government agencies,  and national statistics are aggregated and  collated by various international agencies.  
Quantitative information about economic activity and institutions provides the essential basis for economic inference. Its systematic collection in the form of '''economic statistics'''  had its origin in the realisation that it is indispensable to the practice of economic management, the need for which became evident in the course of the [[Great Depression]] of the 1930s. The  collection, collation and publication  of national economic statistics is usually the responsibility of independent government agencies,  and national statistics are aggregated and  collated by various international agencies.  


Economic statistics are collected according to a defined  framework of arbitrary definitions and categorisations, the interpretation of which requires the exercise of professional judgement; and the same is true of their collation and aggregation. The consequential presence  of a judgmental component in the published figures places a limit upon their accuracy and consistency, as a result of which importance is attached to the impartiality of the authorities responsible for their publication.
Economic statistics are collected according to a defined  framework of arbitrary definitions and categorisations, the interpretation of which requires the exercise of professional judgement; and the same is true of their collation and aggregation. The consequential presence  of a judgmental component in the published figures places a limit upon their accuracy and consistency, as a result of which importance is attached to the impartiality of the authorities responsible for their publication.


==History==
==History==

Latest revision as of 01:29, 16 July 2012

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Quantitative information about economic activity and institutions provides the essential basis for economic inference. Its systematic collection in the form of economic statistics had its origin in the realisation that it is indispensable to the practice of economic management, the need for which became evident in the course of the Great Depression of the 1930s. The collection, collation and publication of national economic statistics is usually the responsibility of independent government agencies, and national statistics are aggregated and collated by various international agencies.

Economic statistics are collected according to a defined framework of arbitrary definitions and categorisations, the interpretation of which requires the exercise of professional judgement; and the same is true of their collation and aggregation. The consequential presence of a judgmental component in the published figures places a limit upon their accuracy and consistency, as a result of which importance is attached to the impartiality of the authorities responsible for their publication.

History

Methodology

Accuracy

Principal Categories

Principal Sources

National agencies

International Agencies

References