World Economics - Insight , Analysis and Data

World Economics - Insight , Analysis and Data
How Clear is the Crystal Ball?
Prakash Loungani
World Economics, March 2001

Two salie nt features of growth forecasts are discussed. First, recessions generally arrive before the forecast. Slowdowns are predicted but forecasters are unable or unwilling to call recessions. Second, private sector forecasts tend to be similar to those of official agencies. Some tips for forecast users are provided.
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