This paper describes the components of the EICIE, the Econometric Institute Current Indicator of the Economy. This measure concerns quarterly and annual growth of Dutch real Gross Domestic Product. The key component of our real-time forecasting model for Dutch quarterly GDP is weekly staffing services obtained from Randstad company, which is single explanatory variable. We show that these two variables are cointegrated, and that the staffing variable helps to give quarterly GDP figures with just a two-week delay.

Additional Metadata
Keywords Current indicator, GDP, Staffing
JEL Forecasting and Other Model Applications (jel C53), Economic Growth and Aggregate Productivity (jel O4)
Persistent URL hdl.handle.net/1765/6743
Series Econometric Institute Research Papers
Journal Report / Econometric Institute, Erasmus University Rotterdam
Citation
de Groot, E.A, & Franses, Ph.H.B.F. (2005). Real time estimates of GDP growth (No. EI 2005-01). Report / Econometric Institute, Erasmus University Rotterdam. Retrieved from http://hdl.handle.net/1765/6743