Federal Reserve Bank of St. Louis. "Classroom Newsletter: "Dewey Defeats Truman" - Be Aware of Data Revisions," Page One Economics® (April 2012). https://fraser.stlouisfed.org/title/5939/item/579238, accessed on May 6, 2025.

Title: Classroom Newsletter: "Dewey Defeats Truman" - Be Aware of Data Revisions

Author: Chen, Mingyu
Date: April 2012
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Date: April 2012
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The famous "Dewey Defeats Truman" headline illustrates the importance of timely and accurate data. Agencies that compute economic indicators for the $14 trillion U.S. economy face a tough challenge: providing up-to-the minute results and ensuring the reliability of the data. This issue explains why there is often a trade-off between these two factors and discusses the importance of data revision.
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