Working Paper: Nowcasting and forecasting economic activity in Denmark using payment system data

Working Paper - April 2021 - No. 177

Authors Bentsen, Kristian Nørgaard; Gorea, Denis
Subject Payment systems; Forecasting
Type Working paper
Year 2021
Published 22 April 2021
Abstract icon We show that payment system data can be used to improve forecasts of short-term changes in economic activity in Denmark. We compare the predictive performance of payment system data to a set of high‑frequency variables that includes industrial production and consumer prices, among many others.