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The Numbers Racket

Devoted to illuminating the perilous state of economic data

How to Decimate a Country in Less Than 20 Years

In 1960, Italy’s GDP was 15% smaller than France’s, and 27% lower than the average of Germany, the Netherlands, Belgium and France’s combined. However, this country enjoyed steady growth until the start of the 1990s as Italian household income caught up with the period’s norm for the other eurozone nations, so much so that around 1995 France and Italy’s GDPs converged and there came to be only a 6% difference between the average of the countries mentioned...

The European Union Must Defend Andreas Georgiou

Nicolas Veron argues that the relentless prosecutions against Georgiou are more than a matter of shameful harassment by Greece. Georgiou’s case also raises disturbing questions about the integrity of European statistical processes...

Modi-fication of Indian Data As Jobs Problem Emerges

Worrying signs have emerged over the last few months, that the rapid growth of recent years may be slowing down, and that India may have a jobs crisis in the making...

The Looting Machine Accelerates, or a Better Life for Africans?

There are two very different views on current prospects for Africa. There is widespread agreement that companies and countries (particularly China and Russia) have become very interested in Africa of late...

Most Read - Last 3 Years

Lords of Poverty

Neither Oxfam or the USA appears keen to see Rwanda start up a garment business. Here's why...

GDP Revisions Rewrite Economic History

Revisions of national accounts affect economic analysis, calling into question theoretical findings based on earlier data. Revisions to German national accounts have resulted in a markedly higher GDP in absolute terms and a lower volatility in ...

Measuring Hyperinflation:
Venezuela's Episode

Venezuela now exhibits the 57th historic episode of hyperinflation as measured in the Hanke–Krus World Hyperinflation Table. Entry to the hyperinflation dataset depends on three qualifying criteria...

Time to Overhaul Global Trade Estimates

The rise of global production networks since the 1980s changed the way we understand international trade and has profound repercussions on development policies and the conduct of global governance. New comparative advantages allow large developing countries to leap...

How Accurate Are China's National Balance Sheets?

The accuracy of data on China’s national balance sheets has attracted much less attention than that of the Gross Domestic Product reports. China’s Bureau of National Statistics has not released official national balance sheets, but two research teams...

Poor Economic Statistics & China's Consumption Myth

The generally held belief that China’s consumption is too low is a myth based on inadequate theory, a misreading of official statistics and the use of market exchange rates for making international comparisons. Chinese official statistics underestimate...

Global Growth

June Sales Managers Survey Shows Global Growth Even Further Below Pre-Covid Levels

Global Sales Indexes fell further in June after devastating declines in the past two months

China

What Is China's Market Stall Economy?

Will market vendors help to kickstart the Chinese economy?

First China Economic Data

Chinese Sales Managers Report a Continuing Fall in Activity in June

Economic activity levels continue to deteriorate in China, but the rate of decline is diminishing.

First India Economic Data

June Sales Data Shows Indian Economy in Dire Straits

All Indian Sales Indexes reflect the continuing widespread damage done to the Indian economy by Covid -19

First US Economic Data

Sales Managers Report a Continuing Fall in Business in June

The US Sales Managers Headline Index continues to reflect a severe fall in sales levels for the 4th consecutive month.

Mongolian Economic Data

June Mongolian Sales Managers Survey Shows Confidence is Slowly Returning

Sales Growth Index within striking distance of signalling renewed growth

Data Quality Ratings

This column reviews and rates the accuracy and utility of economic data worldwide.

GDP, population, and capacity to produce data are analysed below. Price, employment, dependency, inequality and other forms of economic data will be reviewed through 2020.

GDP

Check your Country's GDP Data Quality Rating

Population

Global Population Data Accuracy Ratings

The accuracy of population data varies widely across countries. The most comprehensive data on the number of people living in a territory and their demographic profile, a vital component for public sector economic and social planning and also for private sector needs, is usually available from the result of a census. Read more