SWIFT has launched a new tool that can act as an advance indicator of Gross Domestic Product (GDP).
Economic indicators are critical to support decision-making by investors, analysts, economists, national banks and policy makers. Economic growth indicators are among the most important of these.
The growing complexity of the interconnected global economy requires reliable predictive indicators of economic growth. But their value depends on a combination of factors, including early availability, a robust and transparent methodology, relevant underlying data and wide geographical coverage. Most of the existing indicators do not match one or more of these criteria.
SWIFTs methodology has been validated by academic experts from the Center for Operations Research and Econometrics (COREUniversit catholique de Louvain, Belgium).
The SWIFT Index will be available from the first quarter of 2012.
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