The Rushin Index: A Weekly Indicator of Czech Economic Activity

Tomas Adam, Ondrej Michalek, Ales Michl and Eva Slezakova

Working Papers from Czech National Bank, Research and Statistics Department

Abstract: We introduce the Rushin, a weekly index of Czech economic activity. The index is based on alternative, high-frequency indicators and standard, low-frequency macroeconomic data. Various information from the economy is aggregated to extract a signal about real-time dynamics in the real economy. Although the information on the GDP growth rate is not used directly in the construction of the index, the indicator fits GDP data well, particularly in turbulent times such as the global financial crisis and the COVID-19 crisis. Therefore, it can be used for the real-time monitoring of economic activity, nowcasting and identifying turning points in the economy. The name of the index alludes to the name of Czechoslovakia's first finance minister Alois Rasin and the timeliness (rush-) of the index (-in).

Keywords: COVID-19 crisis; economic activity index; high-frequency indicators; nowcasting (search for similar items in EconPapers)
JEL-codes: C32 C43 E01 E32 (search for similar items in EconPapers)
Date: 2021-09
New Economics Papers: this item is included in nep-cwa, nep-isf, nep-mac and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:cnb:wpaper:2021/4

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