PDSnet Glossary

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Definition

An average of the forecasts of a group of analysts or economists for a particular economic indicator or the profit of a particular blue chip share. Economists usually make predictions of key economic data like the level of inflation, how many basis points the repo rate will be increased or decreased, the level of credit extension or the growth or decline in gross domestic product (GDP). These predictions are then averaged to give the "consensus forecast". In our experience these consensus forecasts have little if any real accuracy.

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