Lies, damn lies and GDP growth data

In theory, the RBA's three measures of GDP should tell the same story about the economy. That fact that they rarely do has finally been addressed.

New research by the Reserve Bank of Australia suggests that quarterly volatility in growth may often, in fact, reflect measurement error rather than changing economic conditions. By utilising information from Australia’s three measures of GDP, it is possible to generate a measure of growth that is both less volatile and more indicative of underlying activity.

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