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Bernard M -- Taipei English Tutor

Bernard M - English Conversation / TOEFL / IELTS 一對一英文會話

Saturday, November 29, 2008

Don't Forget the 10% Margin of Error for National Income Statistics

Whenever I read somthing like "Germany went into recession on Thursday. . ." or that Taiwan's $NT 3,600 voucher ". . . program is expected to raise the country’s gross domestic product (GDP) growth by 0.64 percentage point for 2009 . . ." I have to remind myself that GDP figures are not to be taken too seriously. In fact, Simon Kuznets, estimates national income figures have a margin of error of about 10 percent. He is quoted in Problem of Accuracy of Economic Data.


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