Economists: What are numbers to do with household fortunes?

Economic growth figures do not adequately show whether ordinary households are sharing in the gains, two university economists have told Barbados TODAY, calling for closer scrutiny of incomes, purchasing power and the distribution of wealth.

Their independent assessments point to a major disconnect between the quarterly indicators of economic activity reported by the Central Bank of Barbados and the daily experiences of ordinary householders.

Professor Troy Lorde, dean of the Faculty of Social Sciences at the University of the West Indies (UWI), Cave Hill Campus, and fellow economics lecturer Dr Antonio Alleyne, said on Monday that the growth indicators the bank announces every three months do not adequately explain how the average Barbadian is benefiting.