Term:
Non-observed economy (NOE)
Definition:
The groups of activities most likely to be non-observed are those that are underground, illegal, informal sector, or undertaken by households for their own final use. Activities may also be missed because of deficiencies in the basic statistical data collection programme.
Domain:
Economics & National Accounts
Source:
Measuring the Non-Observed Economy: A Handbook, OECD, IMF, ILO, Interstate Statistical Committee of the Commonwealth of Independent States, 2002, Annex 2, Glossary.
