How useful are QSBO performance indices?

Jean-Pierre de Raad and Lulu Zeng
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Jean-Pierre de Raad: New Zealand Institute of Economic Research
Lulu Zeng: New Zealand Institute of Economic Research

No 2011/6, NZIER Working Paper from New Zealand Institute of Economic Research

Abstract: Performance indices are used worldwide as indicators of activity in key sectors to assist analysts and decision-makers. An advantage of these indices is that, by pooling information from the series that make up the indices, idiosyncratic variation is smoothed out, and a stable and potentially more robust indicator of direction is constructed. Our study shows that individual sector diffusion indices from the QSBO are both good coincidental and leading indicators of economic activity

Keywords: business surveys; New Zealand; economic actvity (search for similar items in EconPapers)
JEL-codes: E32 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2011-11-02
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