Coming Changes to Canada's GDP Measurements

By: Ian Campbell | Mon, Sep 10, 2012
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Governments, Central Banks, economists, stock analysts, investors, traders, the world financial markets and a lot of others make important decisions every day that are partially underpinned by government statistics.

Read the referenced article and, aside from learning of changes Canada is about to make to the derivation of some of those statistics, consider how many of the people using government released statistics do so without fully understanding their underlying derivation and assumptions. Also consider how much fragility there has to be in the conclusions derived from such statistics, which have to be:

Also consider that a world of imperfect information means a world of imperfect decision-making. This, of course, goes only to risk assessment if one makes what I think is the practical assumption that government generated information is not purposefully misstated.

Topical Reference: Canada to revise guidelines for GDP, other data to adopt new standards, from The Financial Post, from Reuters, August 31, 2012 - reading time 2 minutes.

 


 

Ian Campbell

Author: Ian Campbell

Ian R. Campbell, FCA, FCBV
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Through the Economic Straight Talk Newsletter Ian R. Campbell shares his perspective on the world economy, the financial markets, and natural resources. A recognized business valuation authority, he founded Toronto based Campbell Valuation Partners (1976), Stock Research Portal (2007) a source of resource companies market data and analytic tools, and Economic Straight Talk (2012). The CICBV* annually funds business valuation research in his name**. Contact him at icampbell@srddi.com.
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Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/