Page One Economics: "Dewey Defeats Truman": Be Aware of Data Revisions
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- Page One Economics: "Dewey Defeats Truman": Be Aware of Data Revisions
- Reserve Bank
- St. Louis
The famous “Dewey Defeats Truman” headline illustrates the importance of timely and accurate data. Agencies that compute economic indicators for the $14 trillion U.S. economy face a tough challenge: providing up-to-the minute results and ensuring the reliability of the data. This month’s Page One newsletter, “Dewey Defeats Truman”: Be Aware of Data Revisions, explains why there is often a trade-off between these two factors and discusses the importance of data revision.
|Economics, Gross Domestic Product, GDP, Lessons, Newsletter, Page One, Trade off|