Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/210400 
Year of Publication: 
2018
Series/Report no.: 
Treasury Working Paper No. 2018-04
Publisher: 
The Australian Government, The Treasury, Canberra
Abstract: 
This paper adopts the methodology developed by the Federal Reserve Bank of Atlanta to nowcast the expenditure components of Gross Domestic Product (GDP) for the Australian economy. The aim is to help assess the current state of the economy and to assist with macroeconomic forecasting. A range of partial indicators and financial market data are used to estimate a dynamic factor, with the estimated factor then used to nowcast relevant partial indicators. These nowcasts of partial indicators are used to nowcast each expenditure component of GDP. The nowcasting framework is found to be a valuable tool in assessing the current state of the economy.
Subjects: 
Nowcasting
Gross Domestic Product
dynamic factor model
JEL: 
C32
C53
E17
E30
ISBN: 
978-1-925504-93-4
Creative Commons License: 
cc-by Logo
Document Type: 
Working Paper

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