IHS Markit Wins Three Economic Forecasting Awards

Consensus Economics says IHS Markit macroeconomic forecasters best overall for predicting 2016 growth and inflation for Australia, Indonesia and Slovenia

LEXINGTON, Mass.--()--Macroeconomic forecasters at IHS Markit who predict outcomes for Australia, Indonesia and Slovenia provided the most accurate forecasts of gross domestic product and consumer price inflation for 2016, according to an annual survey of leading forecasters conducted by Consensus Economics. IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, announced the awards today.

Consensus Economics surveyed the world’s leading forecasters for their predictions for gross domestic product (GDP) and inflation for 85 nations in industrialized countries in Asia Pacific, Eastern Europe and Latin America during a 24-month forecasting cycle beginning in January 2015.

Bree Neff, Australia Economist, received the Consensus Economics 2016 Forecast Accuracy Award for being the best overall of 28 forecasters at predicting the eventual 2016 outcomes. For the survey period, Neff predicted Australia's 2016 GDP growth and inflation with the lowest mean absolute error rate of 1.027 percent averaged across both variables, compared with actual results of 2.47 percent and 1.28 percent, respectively.

Neff also accepts the Consensus Economics 2016 Forecast Accuracy Award for Indonesia on behalf of IHS Markit, for being the best overall of 27 forecasters at predicting the eventual 2016 outcomes. For the survey period, IHS Markit predicted Indonesia’s 2016 GDP growth and inflation with the lowest mean absolute error rate of 0.672 percent averaged across both variables, compared with actual results of 5.02 percent and 3.53 percent, respectively.

Andrew Birch, Slovenia economist, was awarded the Consensus Economics 2016 Forecast Accuracy Award for being the best overall of more than 19 forecasters at predicting the 2016 outcomes. He predicted Slovenia’s 2016 GDP growth and inflation with the lowest mean absolute error rate of 0.858 percent averaged across both variables, compared with actual results of 2.49 percent for GDP and -0.05 percent for inflation.

“These awards demonstrate the outstanding work our economists perform and the value IHS Markit delivers to its clients,” said Zbyszko Tabernacki, senior vice president and head of economics and country risk for IHS Markit. “Every IHS Markit colleague can be proud of the great work of Andrew, Bree and the entire global macroeconomics team.”

Consensus Economics collects forecasts from more than 700 economists around the world each month. It was founded in 1989 to measure consensus expectations, which are seen as macroeconomic forecast benchmarks by investment and planning managers, as well as government and public sector institutions, who find the data it collects useful, timely and accurate.

Learn more about the methodology for the Consensus Economics Forecaster Accuracy Awards for the Asia Pacific and Eastern Europe regions.

About IHS Markit (www.ihsmarkit.com)

IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 85 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

IHS Markit is a registered trademark of IHS Markit Ltd. All other company and product names may be trademarks of their respective owners © 2017 IHS Markit Ltd. All rights reserved.

Contacts

IHS Markit
Alex Paidas, +1 212-205-7101
alex.paidas@ihsmarkit.com
or
Press Team
+1 303-305-8021
press@ihs.com

Release Summary

IHS Markit Wins Three Economic Forecasting Awards

Contacts

IHS Markit
Alex Paidas, +1 212-205-7101
alex.paidas@ihsmarkit.com
or
Press Team
+1 303-305-8021
press@ihs.com