Assessing data quality in advanced economies

While the accuracy of some official economic data in the UK and US has deteriorated recently, the issue is mainly concentrated in labour market data and does not appear to be a problem in other advanced economies. But outdated collection methods, budget cuts to statistical agencies and rising political interference risk further declines in data quality. This would have the biggest implications for monetary and fiscal policymakers, who rely on high-quality data to avoid policy missteps.