Economics
Computers Outperform Humans for Accuracy on US GDP Forecasts
- GDPNow saw 1.2% economic contraction, actual was 0.9% decline
- Nowcast models gaining following, accuracy improves over time
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Need to gain a sense of where US economic growth is now and where it is likely to be in the future?
It might be better to look at calls from largely automated computer models rather than economists, judging by estimates of second-quarter gross domestic product ahead of the acutal results released Thursday.