Statistics can be misleading

Statistics are often viewed with scepticism. The familiar saying that “the numbers are thriving, but citizens are not” does not simply reflect a general sense of distrust. It, rather, highlights the real gap between an evaluation based on individual macroeconomic indicators and people’s everyday lives. A comprehensive approach should, therefore, include and prioritise indicators with a direct social reference, such as the purchasing power of wages and at-risk-of-poverty rates. The current overemphasis on figures aimed primarily at international markets, investors and trained economists often overlooks the needs of the average citizen. The problem, therefore, lies not in the statistics themselves, but in the way the original data and the resulting statistics are selected, interpreted and used. Without reliable data, sound economic policy making is not possible.

When political decisions are based on fragmented experiences or subjective impressions, the risk of misguided choices, unequal distribution of costs and delays increases significantly. The competent EU services have acknowledged the importance of reliable statistical data and place particular emphasis on quality aspects. Through Eurostat’s common European statistical framework, harmonised methodologies are applied to ensure that data from Member States is both objective and comparable. This is essential, as assessments by EU institutions cover important areas, such as fiscal policy, reforms, social protection and the energy transition. In all instances, the ultimate objective is for policies to be assessed based on specialised indicators rather than general impressions. Greece’s experience in the late 2000s provides a clear warning. Problematic fiscal statistics presented an overly favourable picture of reality…