Communicating uncertainty in GDP estimates
The UK economy has been affected by some unprecedented events in recent years, with the effects of the COVID-19 pandemic followed immediately by the huge rise in energy costs due to the war in the Ukraine. For the ONS, these have increased the challenge of producing economic statistics that are both fast and accurate. Dramatic changes in the underlying data tend to bring added uncertainty to our initial estimates. As Craig McLaren explains, we are exploring ways to better portray this in our statistical outputs.
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