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Economics vocabulary · Economic News and Data

Revise

Meaning in economics, with examples

/rɪˈvaɪz/verbCommon term

In economics, revise means: To change an earlier figure or forecast after new information becomes available, making it higher or lower.

In Turkish: revize etmek, güncellemek, düzeltmek

How it is used

Used with up or upward and down or downward: the IMF revised its growth forecast down; GDP was revised up to 2.3%. Statistics offices revise earlier data as more complete information arrives. The noun is revision: an upward revision.

Example sentences

  1. The central bank revised its year-end inflation forecast up to 8%.

  2. First-quarter growth was revised down from 0.6% to 0.4%.

Common collocations

  • revise up
  • revise down
  • upward revision
  • revised figures
  • revise a forecast
  • forecastAn estimate of future economic figures, such as growth, inflation or unemployment, based on data and models; it is also used as a verb.
  • GDPShort for gross domestic product: the total value of all final goods and services produced within a country in a given period, usually a quarter or a year.
  • beat expectationsTo be better or higher than economists and markets had predicted, used for data such as growth, jobs or company profits.
  • outlookWhat is expected to happen to an economy, market or indicator in the coming months or years.

More terms: Economic News and Data

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