WIFO Flash Estimates - A new estimation approach

With the handover of the Quarterly National Accounts to Statistics Austria in autumn 2020, WIFO methodically redesigns the calculation of the Flash Estimates. In the new approach models are used which directly estimate the rate of change of the GDP components. As a result of the transition from a synergetic combination of Quarterly National Accounts and Flash Estimates to pure Flash Estimates, the methodological focus is shifted towards "nowcasting". To this end, the estimates are compiled on a basis using monthly and quarterly indicators that have reliable lead-time characteristics compared to the National Accounts.