XMU launches new macroeconomic tracking system

The "Real-time Macroeconomy Tracker" is introduced. [Photo by Lin Yuyang for chinadaily.com.cn]

The Center for Macroeconomic Research Center of Xiamen University (XMU), the Basic Science Center for Econometric Modeling and Economic Policy Studies, NSFC, and the Fujian Key Laboratory of Statistical Science (XMU) recently launched the "Real-time Macroeconomy Tracker".

Unlike traditional models that only access data of the same frequency, the new tracker creatively constructs a macroeconometric model based on mixed-frequency big data. It provides daily index values for GDP and CPI, as well as daily monitoring values for growth/inflation rates. 

The tracker also publishes the macroeconomic situations of BRICS countries, G7 countries, and regional economic development trends of several Chinese provinces, autonomous regions, and the nine cities and one district in Fujian province.

The tracker has already been deployed on the website of the Center for Macroeconomic Research Center of XMU. 

The results indicate that since mid to late January 2024, the vast majority of regions in Fujian and the country as a whole have experience strong economic growth, making it highly likely that this year's economic growth target will be reached.

Meanwhile, the "Symposium on Macroeconomic Real-time Tracking and Advances in Macroeconomic Theory and Practice" was held at XMU. 

The Macro Tracker for China and the world, which was launched during this event, is based on XMU's leading disciplines of econometrics and statistics. It utilizes big data and advanced econometric methods to create a macroeconomic econometric model based on big data.

The opening speech at the Symposium on Macroeconomic Real-time Tracking and Advances in Macroeconomic Theory and Practice. [Photo by Lin Yuyang for chinadaily.com.cn]