Gross Domestic Product consistently understates US economic growth by 0.75% and overstates inflation by 0.4%. Watch ING's Chief Economist, Mark Cliffe, discuss the main findings of his report, GDP: A digital remix.

US GDP is routinely understated

ING's Chief Economist, Mark Cliffe, on the main findings of his major new report on the mismeasurement of GDP.

The official statistics on US GDP could be wrong and our latest report, GDP: A digital remix, highlights the fact that contributions from the digital sector are routinely mismeasured. ING's Chief Economist, Mark Cliffe, in collaboration with ING's Carlo Cocuzzo and John Calverley of Calverley Economic Advisors, says his report has profound implications for how the economy is run. And he suggests that we might have to rethink how we conduct monetary policy.