Nowcasting Eurozone Industrial Production - Products Statistical working papers

The aim of this paper is to develop a methodology for the estimation of nowcasts of the Eurozone Industrial Production Index (IPI) for a delay of less than 45 days. We propose to build well-specified robust models for annual and monthly eurozone IPI growth rates that incorporate information from business surveys and partial information from Member States. We prioritise models that are stable and well-specified and the optimal models are determined on the basis of an assessment of nowcasting performance for real-time data.