Office for Statistics Regulation’s Post

We are pleased to share an insightful article on the recent release of the GDP by IBGE and its implications for the economy. Check out the expertise shared by economist André Sacconato on interpreting this data. Read more at: https://ift.tt/OvGwXYV

https://lnkd.in/dGN8Fz4X GDP Is the Wrong Tool for Measuring What Matters It’s time to replace gross domestic product with real metrics of well-being and sustainability BY JOSEPH E. STIGLITZ

Two contrasting pieces of news on approaches of 2 large economies related their Macro data.. Transparency is key to good governance... India is surely headed in the right direction... This should fuel more focused action and hence inclusive growth... China, though has the same objectives of improving growth and lowering disparity, it is going the other way.. https://lnkd.in/gpGu93Se https://lnkd.in/geHPGr6Y

Most important statistics are actually an “estimate” – a statistical judgement that is subject to some degree of uncertainty. So how can we best communicate that uncertainty while still maintaining trust in the statistics themselves? Following criticism of notable UK GDP revisions in 2023 and the resulting Office for Statistics Regulation Review of the Office for National Statistics's GDP approach, a panel session at ESCoE’s 2024 conference explored communicating this uncertainty. In this blog, session panellists Chris Giles (Financial Times), Marianthi Dunn (then at OSR), Sumit Dey-Chowdhury (ONS), Johnny Runge (King's College London) and chair Ed Humpherson (OSR) reflect on the session and the challenge of moving from public criticism to confidence. https://lnkd.in/ezNbDih7 #Communications #EconomicStatistics #GDP

GDP up by 0.3% in both the euro area and the EU Following recommendations for a harmonised European revision policy for national accounts and balance of payments, EU countries will carry out a benchmark revision of their national accounts estimates in 2024. The purpose of this benchmark revision is to implement changes introduced by the amended E... https://lnkd.in/dW7GenJY

MERGE Consortium developed a survey to understand awareness and perceptions of beyond GDP policies and indicators, and how and why GDP is used in policymaking. It also explores the barriers and drivers of moving beyond GDP and provides an opportunity to identify what support the MERGE project can provide. For more info here ⬇️ To take the survey here: https://lnkd.in/dJRPWnrQ You have time until Sunday 30 June 2024. #BeyondGDP #indicators #survey #policies #EU #justtransition #sustaianbilityperformances #sustainability #Horizon #research #SPES

Good to chat to Gavin Jennings about today's National Accounts release on the RTE News at One. As expected, the data are a mixed bag. On a GDP basis, activity contracted in 2023, whereas modified domestic demand which is a proxy for the domestic economy rose slightly. The detailed breakdown shows weak outturns for industry and investment in machinery and equipment, however it’s important to point out this comes after an exceptional performance by the pharma-chemicals sector during COVID-19 and large-scale capital spending by multinationals in 2022. Encouragingly, consumer spending was solid last year, underpinned by record high employment. Further job creation is expected this year and with inflation tracking lower, households’ purchasing power is being restored. This is good news as is the prospect of ECB interest rate cuts and more favourable financing conditions for businesses in the coming months. So the overall outlook for the economy is brighter and in our Economic Eye Forecast we are projecting a growth uplift in both GDP and Modified Domestic Demand terms in 2024. #betterworkingworld #economiceye24 Shane Mac Sweeney Graham Reid Barry Dunning Olive Stephens Simon MacAllister

My essay on kumparan regarding Gross Domestic Products (GDP) previously submitted to the Beyond GDP Essay Competition held by the United Nations Office at Geneva, has been published. The complementary indicator of the country's success apart from solely GDP has to be implemented soon. Life is an equilibrium among various aspects. Extreme emphasis on economic or business aspects will compensate for others' degradation, including the environment, social equity, and so on. https://lnkd.in/g7xVqnxq

📣 Your thoughts on Beyond GDP   💡 What are your perceptions on beyond GDP policies, indicators and models?  We invite you to contribute to the development of the MERGE project by taking the time to fill out our survey! The survey questions help us assess awareness and perceptions of beyond GDP policies and indicators, and to understand how and why GDP is used in policymaking. It also focuses on the barriers and drivers of moving beyond GDP.  Data gathered via the survey will be used to inform the design and prioritisation of beyond GDP policy frameworks and wellbeing indicators, and the construction of communication strategies to enhance their appeal.   The survey includes 20 questions and should take between 10 - 15 minutes to complete. 🖊 It can be accessed at: https://lnkd.in/dJRPWnrQ   🚀 Your input is extremely helpful for us! The deadline for responding is: Friday 28 June 2024