Although the Covid-19 crisis has shown how high-frequency data can help track economy in real time, we investigate whether it improve nowcasting accuracy of world GDP growth. To this end, build a large dataset 718 monthly and 255 weekly series. Our approach builds on Factor-Augmented MIxed DAta Sampling (FA-MIDAS), which extend with preselection variables. We find that markedly enhances perform...

Nowcasting, that is, forecasting the current economic conditions, is a key ingredient for decision making, but it complex, even more so small open economy, due to higher volatility of its GDP. In this paper, we review required steps, taking Luxembourg as an example. We consider both standard and alternative indicators, used inputs in several nowcasting methods, including various factor machine ...

GDP is very important to be monitored in real time because of its usefulness for policy making. We built and compared the ML models forecast real-time Indonesia's growth. used 18 variables that consist a number quarterly macroeconomic financial market statistics. have evaluated performance six popular algorithms, such as Random Forest, LASSO, Ridge, Elastic Net, Neural Networks, Support Vector ...