Nowcasting the growth rate of the ICT sector

Camilo Umana Dajud

No 362, OECD Digital Economy Papers from OECD Publishing

Abstract: This paper details the methodology used to nowcast the growth rate of the information and communication technology (ICT) sector in the "The growth outlook of the ICT sector" chapter of the OECD Digital Economy Outlook 2024, Volume 1. In an era of rapid digital transformation, innovative data sources for economic measurement are crucial. Internet search data have gained prominence for tracking real-time economic activity. This paper details a nowcasting model that leverages Google Trends data to provide policymakers with timely, up-to-date and comparable data on the economic growth of the ICT sector. Having timely data on ICT sector performance is essential to evaluating the effectiveness of sector-related policies. By addressing data challenges and employing a data-driven approach, this paper advances economic measurement of the digitalisation of the economy and provides insights into ICT sector growth dynamics.

Keywords: digital economy outlook; ICT sector; information and communication technology; nowcast; nowcasting (search for similar items in EconPapers)
Date: 2024-05-14
New Economics Papers: this item is included in nep-big and nep-tid
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1787/eb4938a0-en (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oec:stiaab:362-en

Access Statistics for this paper

More papers in OECD Digital Economy Papers from OECD Publishing Contact information at EDIRC.
Bibliographic data for series maintained by ().