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GGD-83-1 1 (1982-12-27)

handle is hein.gao/gaobabduc0001 and id is 1 raw text is: 



BY THE COMPTROLLER GENERAL



Report To The Congress

OF THE UNITED STATES




The Bureau Of Economic Analysis

Should Lead Efforts To

Improve GNP Estimates



Analyses of revisions to the gross national product
(GNP) estimates over the past 30 years show an over-
all commendable record. The size of revisions, although
small, was larger during periods of economic instabil-
ity, which was troublesome to users. The GNP com-
ponents causing most of the revisions to the esti-
mates continue to present problems, and the data for
the components have been affected by recent budget
cuts,: among other things. Also, current data are not
available for estimating some GNP components.

The size of revisions to GNP estimates at critical times
for the economy has caused policymakers to question
the reliability of the estimates. In 1977 an OMB advi-
sory icommittee made 155 recommendations to 24
Federal agencies to improve GNP's data base. Leader-
ship Was lacking to establish the most needed changes
giveh limited resources. Less than one-third of the
recommendations have been implemented. The ones
affecting the most troublesome GNP components
have largely not been implemented.

TheBureau of Economic Analysis needs to take the
lead: in determining the cost of improving the GNP
estimates and the likelihood that such improvements
will make an appreciable difference.
                                                                  120222





     C,,         U
 Z.                                                              GAO/GGD-83-1
                                                               DECEMBER 27, 1982


1 2002_

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