Everything about Economic Statistics totally explained
Economic statistics is a branch of
applied statistics focusing on the collection, processing, compilation and dissemination of statistics concerning the
economy of a region, a country or a group of countries. Economic statistics is also referred as a subtopic of official statistics, since most of the economic statistics are produced by official organizations (for example statistical institutes, supranational organizations,
central banks, ministries, etc.). Economic statistics provide the empirical data needed in economic research (
econometrics) and they're the basis for decision and
economic policy making.
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