28 Apr 2010

It’s high time the integrity of economic statistics is seriously safeguarded

Alberto Giovannini

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Once upon a time, official economic statistics were largely the work implements of economists, econometricians and government officials. Today they are first and foremost fodder for the financial markets, that is, for mass consumption: they move prices and have the same if not an even bigger market impact as corporate information releases. As a consequence, this commentary by Alberto Giovannini argues that there should be a regime that constrains public sector data releases and subjects them to the highest standards, with the explicit view of protecting investors and market integrity.
Alberto Giovannini is the Chief Executive Officer of Unifortune SGR SpA, an asset management company based in Milan.