Question

When conducting research for an industry analysis, why it is necessary to treat with caution the economic statistics for an industry?

Answer 1

Answer:

As they classify the industries grounded on production technology instead of the need of the customer

Explanation:

Economic statistics is the one which is concerned with dissemination, collection, analysis, compilation and processing of the economic data.

When the research is being conducted for the purpose of the analysis of the industry, then it is needed to treat or dealt with the economic statistics, very carefully as it classify or separate the industries grounded on the technology of the production rather the needs of the consumer as it processes the data of the economic.