Experts Warn U.S. Economic Data Quality at Risk Amid Budget Cuts and Staffing Declines
- Olga Nesterova
- Jul 26
- 1 min read
A large majority—89 out of 100—of top policy experts polled by Reuters are worried about the declining quality of official U.S. economic data, long considered the global gold standard. Key concerns stem from sharp drops in survey participation and significant staffing reductions at statistical agencies like the Bureau of Labor Statistics (BLS), triggered by federal budget cuts and hiring freezes.
These cutbacks are already affecting output: the BLS will stop publishing 350 components of the Producer Price Index next month. Experts, including former officials and leading economists, fear that understaffing could lead to data errors, missed deadlines, and biased results—potentially harming decision-making for the Federal Reserve, businesses, and households.
Over 80% of respondents said the issue isn’t being addressed with sufficient urgency, and 70% believe agencies lack the resources to uphold data quality. Many expressed concern about the long-term damage to U.S. credibility in global economic reporting, with no political champions stepping up to defend statistical integrity.
Similar concerns have also emerged regarding data reliability in the UK and India.
Trumps regime is ruining the economy and trade. He wants to pretend he isn’t. We’ll have to rely on data from somewhere else. Everything will be off if not a lie. We have fallen far very fast.