Economic Forecasts: What for?

March 1, 2010

Anticipating the future is a long-standing human aspiration, which is why economic forecasts, whether from public or private institutions, invariably attract significant interest. These predictions are then compared, revealing differences, even if only by a few tenths, and the errors that occur.

It is, however, a truly complex exercise where the use and interpretation made of them is not always the most accurate. In fact, a projection is not necessarily better or worse because it is confirmed or not, and, in many cases, its main utility is to adopt the necessary measures to prevent its fulfillment.

Read the article by Federico Prades of the AEB, published in Actualidad Económica.

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