UBS On-Air: Paul Donovan Daily Audio 'Sad about surveys'

Today’s calendar is plagued with business sentiment survey opinion, and little else. Surveys attract media attention because if you assume the survey does what it says it does, it can produce a more dramatic story. However, survey evidence has been a progressively less reliable description of reality across various measures. The UK government’s ONS says its labor force survey is unreliable—why would sentiment surveys of employment be more credible?