Does the Survey Data on New Orders Lie?

The data of business and consumer surveys are often used for the prediction of the future changes of economics. But doubts that survey data are suitable for such prediction also exist. The objective of this research is to test how the survey data on new orders corresponds to the real data of industrial new orders. An incentive to make such the research arises after the decision of European Commission to stop the collection of data on industrial new orders. The research showed that the survey data on new orders weakly represents the real data of new orders. Moreover, the survey data on new orders is not an appropriate measure for prediction of the future industrial production. It means that lots of managers participate in the survey irresponsible and don’t show the real situation or the questions that they must answer are not very clear for them.