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Using alternative data in macro forecasting and research

with Innes McFee and Tomas Dvorak | Online | October 26, 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.

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