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Germany's botched data revamp leaves economists 'flying blind'

1 pointsby chewz8 months ago

1 comment

chewz8 months ago
&gt; “There used to be certain aspects in life that you could just rely on, and the fact that official statistics are published on time was one of them — not any more,” said Jörg Krämer, chief economist of Commerzbank, adding that the suspended data was also closely watched by monetary policymakers and investors.<p>&gt; But a series of glitches, data issues and IT delays meant Destatis has been unable to publish retail sales and other services data for four months.<p>&gt; The Wiesbaden-based authority, which was established in 1948, said the outages had been caused by IT issues and a complex methodological change in EU business statistics in a bid to boost accuracy.