Today, one of the world’s premiere macroeconomic survey firms, Consensus Economics, announced The Conference Board as the winner of its 2016 Forecast Accuracy Award for the United States. The award resulted from The Conference Board’s success in predicting the performance of both GDP growth and consumer price inflation.
Consensus Economics examined the two measures in response to its monthly surveys over a 24-month forecasting cycle, conducted between January 2015 and December 2016. The graphical presentation below illustrates The Conference Board forecasts compared to the rest of Consensus Economics’ panel; the consensus (mean average of forecasts); and the final outrun, which highlights the strength of forecasts by The Conference Board.
“Amid waves of economic change and uncertainty, we have consistently sought out the interaction between the short- and medium-term dynamics of the U.S. economy, which explains why our estimates of GDP and inflation remained below the consensus for 2016,” said Bart van Ark, Chief Economist and Chief Strategy Officer of The Conference Board. “This accolade underscores why businesses across the globe turn to The Conference Board for trusted, timely insights, and we accept with the utmost gratitude toward our forecasting team of staff and the insights we obtained from our member companies.”
“Our Forecast Accuracy Award program was set up in order to recognize economists with high-quality research and the ability to quickly, and precisely, identify trends and changes in the macroeconomic outlook,” said Philip Hubbard, Director of Consensus Economics. “Winners of the Award showed a strong commitment to analysis and consistently out-performed their peers over the two-year period. We are pleased to announce that The Conference Board has won our 2016 Forecast Accuracy Award for the United States, and we look forward to continuing our work on the United States economy with them in the years to come.”
For further information:
Consensus Economics: Methodology and complete list of award winners
The Conference Board: Full portfolio of global economic forecasts and indicators
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.
For further information contact:
1 212 339 0232