EPISODE · May 3, 2021 · 1 MIN
The truck-o-meter of economic activity
from Die ekonomie minuut · host Waldo Krugell
Economists would like to know how the economy is doing, but one of the big challenges is the delays with which official data is available - for example, the Gross Domestic Product is published quarterly and with a one-quarter lag. So-called "now casting" models use high-frequency data to predict the current quarter's level of economic activity. The Reserve Bank uses an index called the Truck-o-meter and in a recent ERSA podcast Dr Daan Steenkamp explained what they do. Listen to the ERSA podcast here: http://www.econrsa.org/podcasts
What this episode covers
Economists would like to know how the economy is doing, but one of the big challenges is the delays with which official data is available - for example, the Gross Domestic Product is published quarterly and with a one-quarter lag. So-called "now casting" models use high-frequency data to predict the current quarter's level of economic activity. The Reserve Bank uses an index called the Truck-o-meter and in a recent ERSA podcast Dr Daan Steenkamp explained what they do. Listen to the ERSA podcast here: http://www.econrsa.org/podcasts
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The truck-o-meter of economic activity
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