From the course: Excel: Economic Analysis and Data Analytics

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Interpreting other's economic forecasts

Interpreting other's economic forecasts - Microsoft Excel Tutorial

From the course: Excel: Economic Analysis and Data Analytics

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Interpreting other's economic forecasts

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- [Instructor] When it comes to economic forecasting, it's important to recognize the reality is we're all human. We make forecasts, and we do the best job we possibly can, but inevitably those forecasts are frequently going to have issues with them. We're unlikely to be correct most of the time, and in fact, if we get a lot of different forecasters together, reasonable minds, all using the same basic tools and the same basic approaches, can often come up with different results, even for high profile economic variables. Let's take a look at an example. So, I've got here three different outlooks for the US economy for the year 2022. One from Merrill Lynch owned by Bank of America. One from MUFG, and one from Deloitte. So, all three very reputable firms. Now, what does each firm see happening? Well, they go through kind of their analysis depending on the firm, and look at it in a little bit different way in each case. But if…

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