QuantCube launches Industrial Production Indicator
Alternative data specialist QuantCube Technology has launched the QuantCube Industrial Production Indicator (IPI) nowcast – providing a daily update on industrial production output in the US. The indicator measures year on year changes in outputs from the manufacturing, mining, electricity and gas industries to provide insights into total industrial production, a key driver of GDP.
QuantCube says this indicator of the health of the economy will give traders and investors crucial insights on a daily basis into industrial production output levels in advance of official data from the Federal Reserve which is published on a monthly basis.
QuantCube uses a mixed frequency model to analyse and aggregate high frequency data related to industrial production. The result is an indicator that correlates very closely with the Fed’s monthly index.
The Industrial Production Indicator is available to users of QuantCube’s Macroeconomic Intelligence Platform – which also provides real-time macro variable indices for GDP, Consumption, Inflation and Employment, giving users invaluable insight into global economic and trade trends.