-
US GDP: A digital remix
Gross Domestic Product consistently understates US economic growth by 0.75% and overstates inflation by 0.4%, as contributions from the digital sector are routinely mis-measured. This is the conclusion of our new report by Mark Cliffe in collaboration with John Calverley of Calverley Economic Advisors, which seeks to challenge the old economic order GDP is a complex statistic with a history of errors, controversies and changing methods and definitions. In seeking to ‘remaster’ GDP, this report examines ways of fine-tuning its composition. We pay particular attention to the impact of the rapid digitalisation of ... (full story)