Courtesy of EconMatters
We discuss the flaws of Soft Data Economic Reports which basic come down to surveys based largely on psychology, and the fudge factor is off the charts. Investors should just ignore the survey based soft data economic reports. These economic reports are largely backward looking and too much sentiment based on behalf of the respondents in far to small a sample size to be indicative and scientific in regards to forecasting future economic trends in the economy.
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