Digital technology has improved our well-being in ways that are difficult to measure in monetary terms. Not all the effects of digitalisation are fully reflected in GDP.
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Global trends in international trade and technological advances will shape output and employment structures. Accelerating automation raises concerns over a long-term reduction in work, falling wages and increasing inequality.
Precise information on the current state of the economy comes only with a considerable time delay, although many economic decisions require the support of real-time data. Before official statistics are released, the situation is nowcast using short-term forecasting models.