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Are executives now exploring other means of fore-casting the business future?

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Today, many executives are unhappy with the economic forecasts they receive. As a result, they have fired economists and are paying less attention to macroeconomic forecasts, arguing that these forecasts cost too much and reveal too little. Instead they are now leaning more heavily on their own rough-and-ready indicators of what is likely to happen to their businesses and industries. When they do consult economists, they increasingly send them into the field with line managers to forecast the particulars that really matter.

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