He said: "This government isn't in the forecasting business.
In the forecasting world, this is widely acknowledged; indeed, it's largely taken for granted.
"And even now in these doomlike times, we in the forecasting profession say it won't last".
"It would be nuts for us to be in the forecasting business," Mr. Axelrod said.
For publishers and booksellers, the growing sophistication in the forecasting and tracking of sales has had an impact.
Yet these fantastic leaps in computation have achieved little real improvement in the forecasting of specific weather conditions.
Our study contributes to our understanding of unintentional biases in the forecasting process.
"We're not in the prediction business, and we're not in the forecasting business," said Michael Chui, a principal of the McKinsey Global Institute.
The errors in the forecasting stage for U and FC increased with respect to the test stage.
Everyone in the forecasting business is scrambling to mark down both their estimates of second-quarter growth and their forecasts for later in the year.
This leads to uncertainty in the forecasting of their overall performance, as well as their effectiveness in shielding incoming elastic, acoustic and water waves.
