NEW YORK (TheStreet) -- The accuracy of GDP quarterly numbers is under fire as critics believe the current methodology of measuring the economy leaves out key modern factors.
"We think that the economic statistics out there aren't capturing some of the underlying growth in the economy," Wood said on CNBC's "Squawk Box."
The reasoning behind her view is the strong growth rates of Facebook (FB), Alphabet (GOOGL) and Amazon.com (AMZN). Calling it "the new economy," Wood says those big tech companies are "taking massive share from the old economy."
"This growth is being powered by deflationary forces, but it's good deflation," Wood noted.
Looking to an additional example of auto sales, Wood believes Ford is correct when it said recently "that auto sales have peaked." Yet she thinks it is a secular peak, "not a cyclical peak," due to the data being "more and more misleading" and the "movement towards ride sharing is going to eliminate a lot of auto sales," Wood stated.
"If we're right and electric vehicles are going to take off, electric vehicles are four times more energy efficient than regular cars ... we think oil prices have a big problem as electric vehicles ramp here," Wood added.