Economic forecasting is the process of making predictions about the economy. Forecasts can be carried out at a high level of aggregation—for example for GDP, inflation, unemployment or the fiscal deficit—or at a more disaggregated level, for specific sectors of the economy or even specific firms.
Overview
Many institutions engage in economic forecasting, including international organisations such as the International Monetary Fund, World Bank and the OECD, national governments and central banks, and private sector entities, be they think-tanks, banks or others. Some forecasts are produced annually, but many are updated more frequently.
Economists select which variables are important to the subject material under discussion. Economists may use statistical analysis of historical data to determine the apparent relationships between particular independent variables and their relationship to the dependent variable under study. For example, to what extent did changes in housing prices affect the net worth of the population overall in the past? This relationship can then be used to forecast the future. That is, if housing prices are expected to change in a particular way, what effect would that have on the future net worth of the population? Forecasts are generally based on sample data rather than a complete population, which introduces uncertainty. The economist conducts statistical tests and develops statistical models (often using regression analysis) to determine which relationships best describe or predict the behavior of the variables under study. Historical data and assumptions about the future are applied to the model in arriving at a forecast for particular variables.
The Camoin Group is a highly respected economic forecasting and consulting firm known for making conservative projections ... The county-owned U&D corridor makes this a no-brainer, an easy and economical boost that will expand our active tourism appeal.
... economic shifts ... Will Domestic DemandRebound? In 2024, economic growth reached 7.09%, a little bit higher than the 7% forecast by the prime minister at the National Assembly session in October 2024.
The CFG expressed this view in a report, “Nigeria 2025 Economic Forecast... According to CFG, “the fundamentals of the Nigerian economy are sound but poor economic leadership has failed to realise the potential and grow the economy.
... forecast to peak around 3 a.m ...Private forecaster AccuWeather estimates total damage and economic loss between $250 billion and $275 billion, which would make it the costliest natural disaster in U.S.
Private forecaster AccuWeather estimates total damage and economic loss between $250 billion and $275 billion, which would make it the costliest natural disaster in US history, surpassing Hurricane Katrina in 2005.
Horvath warned that the county hadn’t yet grasped the toll of the fires, which could still worsen with strong winds in the forecast. “The economic and emotional toll on our community is immense,” she said ... The L.A ... Some had insurance ... The Rev ... .
This year's Economic Forecast will be different from previous years, featuring a panel discussion exploring the specific impacts on Houston's economy ... .
Economists forecast a global average inflation rate of 3.9 percent in 2025, decreasing slightly to 3.5 percent by 2027 ...Inflation in the region is forecast to increase further, reaching 2.8 percent in 2026 and 2.9 percent in 2028.
Despite the recent rise in inflation, the Mongolian government remains optimistic about the country's economic outlook, forecasting an inflation rate of approximately 7.2 percent for 2025.
... growing over market forecasts ... New forecast. Capital Economics (CE) has changed its interest rate forecast because it now thinks the Bank of England will cut rates more slowly as a result of the budget.
Speaking at the 150th Foundation Day of India Meteorological Department (IMD), he underlined that accurate weather forecast is essential for economic resilience and enhance trust of investors ... At 150, IMD eyes hyperlocal forecast for climate extremes.
