Measuring rapid changes in a complex economic climate
From GDP to inflation and the rising cost of living, the economy is in the news every day! But do you know how the ONS gathers all that data, and how we’re working to make it even more relevant? Find out in the latest episode of our podcast: Statistically Speaking
In this month’s episode, we talk to ONS Second Permanent Secretary, Sam Beckett and Deputy Director or our Prices Division, Mike Hardie, about the science of measuring rapid change in a complex, globalised and now increasingly turbulent economic situation.
We take a look at how ONS is keeping on top of rising prices and how faster data is helping us to track the economy in close-to-real time.
Sam considers lessons learned from some the biggest economic shocks in history and whether rapid data will turn statisticians into forecasters, while Mike talks us through the different ways ONS measures inflation.
Listen in at the link below or find us on your podcast app of choice