THE SHAUL INDEX OF ECONOMIC ACTIVITY*

E. Osborn

South African Journal of Economics, 1960, vol. 28, issue 1, 47-52

Abstract: Mr. Shaul's work on an index of economic activity is welcomed as a notable contribution to economic statistics in the Federation or Rhodesia and Nyasaland. He has introduced an index of such practical importance, especially in the absence of official quarterly estimates of gross domestic product that attention should be given to its theoretical basis. In Mr. Shaul's paper greater attention was given, however, to the conception of the index and the choice of variable. The method of Factor Analysis used by Mr. Shaul has had wide application in other scientific fields, particularly psychology, but has only in recent years received support for its use as a powerful method in economics. Although this paper is primarily concerned with the mathematical theory of the index, it is hoped that the treatment is sufficiently general to be of wide interest to economic statisticians in Southern Africa.

Date: 1960
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