[ECB] BigDataFr recommends: Statistics Paper Series n°10: Nowcasting GDP with electronic payments data – Using big data to forecast GDP growth

BigDataFr recommends: Using big data to forecast GDP growth
Statistics Paper Series n°10: Nowcasting GDP with electronic payments data

Abstract:

‘Electronic payment transactions and cheques can be used to formulate “nowcasts” of current gross domestic product growth for policy-makers. This paper assesses the technique and finds that debit card transactions contribute most to forecast accuracy.’

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By John W. Galbraith (department of Economics, McGill University) and Greg Tkacz (Department of Economics, St. Francis Xavier University)
Source: ecb.europa.eu

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