what s a major economic prediction that went wrong 
the 2007 08 financial crisis stands out as a major event that seemed to most to occur out of nowhere more recently one of the most notable economic predictions that went wrong was the underestimated impact of the covid 19 pandemic on the global economy in early 2020 many experts and financial institutions including the international monetary fund imf and various central banks initially predicted a relatively swift economic recovery following short term disruptions however the prolonged nature of the pandemic with multiple waves of infection and varying responses by different countries led to far more severe and long lasting economic consequences than anticipated then the imf failed to predict the surge in inflation that arrived afterward 1920the bottom lineforecasts help managers analysts and investors make informed decisions about the future without good forecasts many of us would be in the dark and would resort to guesses or speculation by using qualitative and quantitative data analysis forecasters can better understand what lies ahead businesses use forecasts and projections to inform managerial decisions and capital allocations analysts use forecasts to estimate corporate earnings for subsequent periods economists may make more macro level forecasts as well such as predicting gdp growth or changes to employment however since we cannot definitively know the future and since forecasts often rely on historical data their accuracy will always come with some room for error and in some cases may end up being way off 