BoE economist creates ‘nowcast' composite from global indicators
Global indicators such as purchasing managers' indexes and world trade indexes can provide far more accurate ‘nowcasts' of global economic growth and levels of trade than simple benchmarks, especially when combined and properly weighted.
A paper in the Bank of England's Quarterly Review, written by Kate Stratford of the Bank's International Economic Analysis Division and entitled Nowcasting world GDP and trade using global indicators, finds that ‘direct' measures, most closely related to world
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