Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 2, 2022

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Sun Jul 31 10:54:24 +0000 2022

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Paul Krugman @paulkrugman

The inconsistencies have been especially large lately: GDP falling but GDI, which should be exactly the same, rising along with employment; industrial production up when the economy is supposedly down; etc 4/ — PolitiTweet.org

Posted July 31, 2022

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Paul Krugman @paulkrugman

But because all economic statistics are estimates, not direct observations, they can be inconsistent with each other and are often revised, sometimes by a lot 3/ — PolitiTweet.org

Posted July 31, 2022

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Paul Krugman @paulkrugman

This kind of noise in the data explains why the NBER doesn't rush to make recession calls, and relies on multiple indicators, not just GDP 5/ — PolitiTweet.org

Posted July 31, 2022