Media coverage

Written on 15 Feb 2021

Flying blind

What do we really know about the economy and the policy choices confronting us? Professor Diane Coyle speaks on the BBC Radio 4 Analysis programme about the uncertainties of using GDP to make policy decisions.

How well do we know what the economy is up to? It's recently been suggested that the first estimates of GDP can’t be sure of telling the difference between boom and bust and some recessions have turned out to be illusions.

Journalist Michael Blastland talks to Professor Diane Coyle about measuring the economy using GDP and how it affects policy and debate.

...these numbers have quite profound impacts sometimes and I have a lot of sympathy with using them to tell that story about the economy because we do need to get our arms around what's happening, but I do wish people would have a greater appreciation of all the uncertaintly involved.

Professor Diane Coyle, Inaugural Bennett Professor of Public Policy