A monthly indicator of GDP for Euro-Area based on business surveys

Abstract

Policy-makers and analysts are continually assessing the state of the economy. But, gross domestic product (GDP) is only available on quarterly basis with a time span of 1–3 months, and sometimes with significant revisions. The aim of this article is to develop a monthly indicator of GDP for Euro-Area based on business surveys and to give the outlook of the economy activity induced by the indicator.

Acknowledgements

I would like to thank T. Proietti for providing me his Ox codes, as well as J. Anas and L. Ferrara at COE for helpful discussions.

Notes

¹ All the experiments are performed in Ox 3.3 and the temporal disaggregation is carried out using Proietti (2004) programs.