Oil and economic forecasting did not mix well in 2015.
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It’s clear what threw prognosticators and policy makers for the biggest loop with their economic forecasts for 2015: oil.
Crude oil prices stayed unexpectedly low this year and those low prices didn’t prove as beneficial as many had hoped.
A year ago, the price of oil had collapsed but many expected it to gradually rebound. Lower gas prices usually provided a boost to consumers, and higher gas prices certainly hurt consumers, but the boom that many had hoped for failed to materialize. In other words, estimates of oil prices and inflation Read More

Source:: wsj