Is the PMI a reliable indicator for nowcasting euro area real GDP? – Beragampengetahuan
Is the PMI a reliable indicator for nowcasting euro area real GDP? Gabe de Bondt and Lorena Saiz in this short ECB note: The euro area composite output Purchasing Managers’ Index (PMI) tends to be strongly correlated with real GDP growth (Chart A). The composite output PMI is a diffusion index, which measures the sum of […]
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