Using alternative data in macro forecasting and research

Date: Thursday 26 October 2023

Alternative data are a promising area of economic forecasting and analysis. Novel indicators such as mobility, electricity consumption, internet searches, or proprietary sentiment indices allow us to track economic developments and trends with a much shorter lag, at much higher frequency, and often on a much more granular scale than when relying on standard aggregate macro data. In this webinar, we assess the use of alternative data in macroeconomic forecasting and research, including common pitfalls, appropriate methods and best practices based on our continued use of alternative data at Oxford Economics. We also demonstrate the existing uses of alternative data in different lines of work at Oxford Economics.

Innes McFee
Innes McFee

Managing Director of Macro and Investor Services

+44 (0) 203 910 8028

Innes McFee

Innes McFee

Managing Director of Macro and Investor Services

London, United Kingdom

Innes McFee is the Managing Director of Macro and Investor Services, based in London. Innes oversees the activities of the Macro & Investor Services teams globally, including the Global Macro Forecast and Global Macro Service.

Innes joined Oxford Economics in 2017 after 6 years at Lloyds Banking Group as a Senior Economist. At Lloyds Innes was responsible for the economic scenarios underpinning the Group’s internal planning and stress testing; analysis of key risks; and developing Lloyds’ approach to multiple economic scenarios for IFRS9. In addition, Innes’ role included developing the Group’s capability in modelling macroeconomic fundamentals and UK banking markets and advising the Group Corporate Treasury on financial market developments.

Prior to joining Lloyds Innes was an Economic Advisor at HM Treasury where his roles included management of the UK’s foreign currency reserves; US economist; and G20 macroeconomic policy advisor. Innes has a first class undergraduate degree in Economics from the University of Durham and a MSc in Economics from Warwick University.

Tomas Dvorak

Senior Economist

+44 (0) 203 910 8150

Tomas Dvorak

Senior Economist

London, United Kingdom

Tomas is a Senior Economist in the Macro and Investor Services’ eurozone team. He oversees the coverage of Central and Eastern Europe in addition to producing thematic research on the eurozone and developing modern, data-driven approaches to economic forecasting, including the use of alternative and high-frequency data.

Tomas holds an MA in economics from the University of Glasgow and an MSc in economics from the University College London. He previously worked as a data scientist at KPMG and as an advisor in the European Parliament.

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