Redcellar Posted August 12, 2011 Share Posted August 12, 2011 Linky From the LSE GDP hopes dashed by statistic errorONS figures for the construction sector have been 'overstated' More haste and less speed construction. Quote Link to comment Share on other sites More sharing options...
crash2006 Posted August 12, 2011 Share Posted August 12, 2011 Linky From the LSE GDP hopes dashed by statistic errorONS figures for the construction sector have been 'overstated' More haste and less speed construction. if they can count something like this then why should we take there inflation figures Quote Link to comment Share on other sites More sharing options...
Unsafe As Houses Posted August 14, 2011 Share Posted August 14, 2011 (edited) http://www.myfinances.co.uk/mortgages/2011/08/12/ons-admits-to-error-in-construction-figures Just Shoddy. I used to work for ONS for nearly 3 years, and, largely because I was worried I would be tarnished by their shoddy reputation and would'nt be able to get a job anywhere in the HE or commericial sectors, I left for a new job. In my experience, there are many, many people at ONS who are excellent at their jobs and a credit to public service, but there are many who are really, really, terrible at their jobs. The terrible ones are normally those who have progressed through the ranks, not by ability, but by length of service. I once had to explain the difference between a raw and standard score to a very, very high ranking ONS staff member - that's basic GCSE stats. I would advise any HPC-er to treat ONS stats with caution until their revisions, and then with a degree of caution - there are some right numptys working there. Edited August 14, 2011 by Unsafe As Houses Quote Link to comment Share on other sites More sharing options...
Bootsox Posted August 14, 2011 Share Posted August 14, 2011 Linky From the LSE GDP hopes dashed by statistic errorONS figures for the construction sector have been 'overstated' More haste and less speed construction. Your link doesn't seem to go anywhere useful. Quote Link to comment Share on other sites More sharing options...
Redcellar Posted August 14, 2011 Author Share Posted August 14, 2011 Your link doesn't seem to go anywhere useful. Yes, they seem to have removed the story from their site. It was Friday's news. Another post on HPC says they were out by a factor of four / five. Here's another story link. DT story on it Seems they entered the wrong digits into the wrong cells of a spreadsheet! Novice error to have spreadsheets of such importance that allow you to even make that mistake. Absolute auditing 101 basics. So not fat fingers, just incompetence and lack of controls. Quote Link to comment Share on other sites More sharing options...
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