Government economists turn to big data to track the economy

David Harrison  |  May 15, 2019

By David Harrison, includes “A U.S. inflation report released in April offered an early look at a quiet revolution taking place in the way government statisticians are tracking the economy. Instead of sending people out to stores to check prices, as it has done for decades, the Labor Department’s Bureau of Labor Statistics gathered data for the price of apparel directly from a big department store. With the switch, government economists saw the largest monthly drop in apparel prices on record.”

Read the full article on: The Wall Street Journal

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