Tuesday, February 24, 2009

More optimism!

Real Time Economics discusses a NABE survey saying that GDP growth will be pretty strong in 2010, according to forecasters.

I'm not always a fan of the Real Time Economics blog, ever since I felt they misled the public in a survey about economists' views on the presidential election. They did their own survey of economists (it was a very small number of economists) and determinded that economists favored McCain. Later independent surveys (each of at least 800 economists, I believe) showed economists favored Obama almost 2-to-1. The WSJ survey seems to have been very far off.

So, I went looking for information on the survey. Reuters UK tells me that it was a survey of 47 forecasters. Considering I believe these are 47 forecasting firms rather than individual economists, and the survey was done by the NABE not WSJ, I have a moderate amount of faith that the survey is fairly accurate.

No comments: