Another form of uncertainty about where we are, and sometimes also where we've been, comes from revisions to data after they were first published. [3] I will illustrate this point with a couple of recent examples.
In the annual national accounts for 2015/16 released in October last year, there was a sizeable reappraisal of the allocation of total investment between the mining and non-mining sectors of the economy (Graph 1). There were upward revisions to the level of mining investment throughout the past decade, which was offset by downward revisions to the level of non-mining investment.