“Dewey defeats Truman”: be aware of data revisions

The famous"Dewey Defeats Truman" headline illustrates the importance of timely and accurate data. Agencies that compute economic indicators for the $14 trillion U.S. economy face a tough challenge: providing up-to-the minute results and ensuring the reliability of the data. This month's Page One newsletter, "Dewey Defeats Truman": Be Aware of Data Revisions, explains why there is often a trade-off between these two factors and discusses the importance of data revision.