Why is GDP typically revised upwards?

Philip Hans Franses

Statistica Neerlandica, 2009, vol. 63, issue 2, 125-130

Abstract: Quarterly and annual gross domestic output (GDP) data are usually revised, and this revision process may cover a few years. It is also usually found that GDP figures are revised upwards. In this note, I provide a simple explanation for why this happens. Implications for interpreting and forecasting GDP data are less simple.

Date: 2009
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