As the nation celebrates Independence Day this Fourth of July, the Society for Advancing Business Editing and Writing reminds the public that our markets and economy rely on reliable information to remain viable.
Amid assaults on government institutions, fierce debates over government funding and the threat of shutdowns, nonpartisan agencies like the Census Bureau, Bureau of National Affairs, Bureau of Labor Statistics and others are compiling reports that give the best representations available on the state of the economy, labor markets and consumer prices. Their reports are revised as more accurate data becomes available.
The integrity of these and other reports has been one of the hallmarks of the American economy during the past decade, providing vital information for journalists, investors and business owners as well as consumers. That stands in contrast to other nations where official economic reports are met with a high degree of skepticism.
The ability of government agencies to deliver their most accurate version of available data without fear of political influence is part of the foundation on which the American economy rests. Any weakening of that foundation would be a further sign that our democracy is under threat.