CEIC Expands Nowcast Coverage
London
19th October 2023
CEIC expands nowcasting coverage
CEIC, the leading provider of economic data and insights for global markets, today announced that it is increasing its range of proprietary inflation nowcasts to cover four additional major markets - Japan, UK, Brazil and Australia.
This expansion is in response to increased demand from investment strategists and economists for near real-time insight for key economic indicators.
CEIC now carries over 50 nowcasting datasets, including:
• 36 GDP nowcasts
• 18 inflation nowcasts
• A retail sales nowcast for China
CEIC has pioneered the use of alternative data and machine-learning models to offer predictions that consistently outperform the market.
This AI-driven approach has two key advantages over traditional forecasting methods:
1) By incorporating high-frequency and alternative data, CEIC’s nowcasting model offers unique real-time insights derived from a wealth of dynamic information.
2) Unlike traditional models that rely on static indicator selection, CEIC's machine-learning models readjust in real time. This empowers users to track and analyse the most relevant predictors for their targeted economic indicators as they evolve in real time.
Chris Pearce, Managing Director of CEIC, commented: “This expansion in our coverage confirms CEIC’s position as the industry standard for nowcasting and alternative data in the market. We strongly believe that our dynamic and responsive modelling solution is a game changer in creating accurate forecasts and generating alpha for our clients.”
About CEIC
In an era of rapid economic change, geopolitical developments and supply chain evolution, nobody is better placed than CEIC to support investment and business decisions. As well as traditional economic data, CEIC incorporates alternative and high frequency data sets that offer fresh and immediate insight on markets. For over 30 years, CEIC has curated the highest quality data for our clients, helping them to generate insight into current trends and future developments. Economists, investment professionals and data scientists all over the world have come to rely on CEIC’s expertise in delivering reliable global and emerging market macroeconomic data.