Forecasting economic growth: an uncertain activity

night-shift

The maritime industry is highly dependent upon a good economic forecast such as Gross Domestic Product (GDP). The modeling employed estimates Consumption + Investment + Government Spending + Net Exports.

The data points are normally collected via surveys and are prone to revisions, making the quality of the data going into the models hard to measure.

Based on the above, ports, carriers and cargo owners find it difficult to assess what the past month or quarter growth projections really are.

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