The Importance of Statistics Literacy in the Conduct of Economy

In this analysis, Dr. Cem Çakmaklı discusses the concept of "Statistics Literacy" and its importance in policy decision-making. Dr. Çakmaklı elaborates on this relatively novel concept by considering two examples of confusion regarding the interpretation of the readings to key macroeconomic aggregates: inflation and Gross Domestic Product (GDP) growth. Dr. Çakmaklı concludes his analysis by providing suggestions to the National Statistical Agency and economists for a better understanding and comparison of these figures in line with the international consensus.

(Above you can access the policy note in PDF format. This policy note is available only in Turkish)