Report: Economic Forecasts Are Mostly Wrong, yet Decisions Are Still Made Based on Them
9 Articles
9 Articles
A new report reveals that forecasting almost always goes wrong.
Forecasts of economic growth are usually off the mark, and a lot of it, says the Kalevi Sorsa Foundation. Political decisions are still made based on them.
The economic forecasts of forecasting agencies have been consistently wrong for ten years and have led to ill-considered economic policy. The shortcomings of Statistics Finland's advance data are repeated in the forecasts, says a report by the Sorsa Foundation.
According to a recent research report by the Kalevi Sorsa Foundation, the estimates of economic growth by both the Ministry of Finance and other economic forecasters have been consistently wrong. The researchers consider the errors to be systematic.
According to a recent research report by the Kalevi Sorsa Foundation, the estimates of economic growth by both the Ministry of Finance and other economic forecasters have been consistently wrong. The researchers consider the errors to be systematic.
It is difficult to get economic forecasts right. Therefore, politicians should be ready to change their decisions as the real developments become clearer. That is the message of a report from the Kalevi Sorsa Foundation.
Coverage Details
Bias Distribution
- 67% of the sources are Center
Factuality
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