|By Business Wire||
|May 28, 2014 09:54 AM EDT||
The U.S. macroeconomic forecasting team at IHS Global Insight provided the most accurate forecasts of U.S. gross domestic product and consumer price inflation for 2013 according to an annual survey of leading forecasters conducted by Consensus Economics, IHS Inc. (NYSE: IHS), a leading global source of critical information and insight, announced today.
The IHS Global Insight team received the Consensus Economic 2013 Forecast Accuracy Award for the United States for being the best overall of more than 35 forecasters at predicting the eventual 2013 outcomes. Consensus Economics surveyed the world’s leading forecasters for their predictions for more than 1,000 variables over 85 nations in industrialized countries, Asia Pacific, Eastern Europe and Latin America over a 24-month forecasting cycle beginning in January 2012.
For the survey period, the IHS Global Insight forecasters predicted U.S. 2013 GDP growth and inflation with the lowest mean absolute error rate of 0.172 percent averaged across both variables, compared with actual results of 1.9 percent and 1.5 percent, respectively.
“This award exemplifies the best of what our experts do every day for our clients, who rely on IHS to help them make important decisions that will spell success for their companies,” said IHS Chief Executive Officer Scott Key. “Each of us throughout IHS takes pride in the great work of Chief U.S. Economist Doug Handler’s team of economic experts and the leadership of Chief Economist Nariman Behravesh.”
Consensus Economics, founded in 1989, is the world's leading international economic survey organization and polls more than 700 economists each month to obtain their forecasts and views. These surveys cover estimates for the principal macroeconomic indicators including GDP growth, inflation, interest rates and exchange rates in more than 85 countries.
Learn more about the methodology for the Forecaster Accuracy Award.
Learn more about related IHS services.
About IHS (www.ihs.com)
IHS (NYSE: IHS) is the leading source of information, insight and analytics in critical areas that shape today’s business landscape. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS is committed to sustainable, profitable growth and employs more than 8,000 people in 31 countries around the world.
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