A lot of headache could be avoided if confidence intervals were part of the publicized #s. That’s a double-edged sword because of how people generally respond to uncertainty, but would help put point predictions in context
This reminds me of an article that appeared in the Economist about 30 years ago, where they reported on the relationship between how quickly government statistical agencies reported preliminary economic measures and how far the preliminary estimates were from the final numbers. Not surprisingly, quick-reporting countries had to make revisions faster than countries that waited longer to issue their first reports. And, the US was the country that issued preliminary estimates faster than anyone else. Someone should hunt that article down...
A lot of headache could be avoided if confidence intervals were part of the publicized #s. That’s a double-edged sword because of how people generally respond to uncertainty, but would help put point predictions in context
Good short article from a financial planner I follow regarding the superiority of American government data sets, especially when compared to other countries. https://www.pragcap.com/a-little-love-for-american-economic-data/
This reminds me of an article that appeared in the Economist about 30 years ago, where they reported on the relationship between how quickly government statistical agencies reported preliminary economic measures and how far the preliminary estimates were from the final numbers. Not surprisingly, quick-reporting countries had to make revisions faster than countries that waited longer to issue their first reports. And, the US was the country that issued preliminary estimates faster than anyone else. Someone should hunt that article down...