Early-year economic predictions seldom materialise as envisaged, even though part-predictions may. This is largely because policies work with long and variable lags that may be influenced by unpredictable events. Sometimes the impact of slow-moving variables like demographics emerge in unexpected ways, or crises surprise, with unforeseen consequences for economic activity and asset prices.
Early-year economic predictions seldom materialise as envisaged, even though part-predictions may. This is largely because policies work with long and variable lags that may be influenced by unpredictable events. Sometimes the impact of slow-moving variables like demographics emerge in unexpected ways, or crises surprise, with unforeseen consequences for economic activity and asset prices.
