High-frequency data could improve GDP estimates – RBI researchers
Initial data releases tend to be revised upwards, the authors find
Early data releases on growth could be made more accurate if economists take into account a wider set of macroeconomic data, researchers from the Reserve Bank of India argue in an article published today (May 1).
The ‘Mint Street Memo’ finds that early releases of GDP and gross value-added growth tend to be revised upwards as “data coverage” improves. The revisions are particularly large when the growth cycle turns, the authors say.
“It may be advisable for data users to read GDP growth
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