📊 Source: INSReuters, own calculation

DFM Macroeconomic Data

We estimated a dynamic factor model (DFM) to provide short-term economic growth forecasts in a timely manner. DFMs are used to exploit useful information from a wide range of high-frequancy indicators. Our model includes monthly data series covering different economic sectors (market services, industry, construction) as well as sentiment, price and labour market indicators. As more information see the light of day, the GDP growth estimates provided by the DFM are expected to become more accurate. The values shown represent the three-month moving average of the annual growth rate.


📊 Source: INSReuters, own calculation

The heat map summarizes and presents the evolution of several key macroeconomic indicators in the latest period
🟥 worse ◄ Previous 5 years average ► better 🟦

📊 Source: INSReuters, own calculation

Economic heatmap

📊 Source: INSReuters, own calculation

Annual GDP growth vs. market and DFM model estimates