Eurobank GDP NOWcasting model update. Greek GDP preliminary forecast.
Greece Macro Monitor - Focus Notes
19 March 2014
This note presents a preliminary estimate of Greek GDP in the first quarter of this year, based on a range of monthly data released up to March 15, 2014. Our Nowcasting model produces high frequency, real-time estimates of Greece’s gross domestic product by applying an econometric methodology that can properly handle data reporting lags, revisions and other important aspects characterizing the daily flow of macroeconomic information. Our updated model estimates point to a further slowdown in the pace of annual GDP contraction in the first quarter of 2014 to around -0.8%, from -2.3%YoY in Q4 2013.