Do professional forecasters pay attention to data releases?

Clements, M. ORCID: https://orcid.org/0000-0001-6329-1341 (2012) Do professional forecasters pay attention to data releases? International Journal of Forecasting, 28 (2). pp. 297-308. ISSN 0169-2070 doi: 10.1016/j.ijforecast.2011.09.001

Abstract/Summary

We present a novel approach to assessing the attentiveness of professional forecasters to news about the macroeconomy. We find evidence that professional forecasters, taken as a group, do not always update their estimates of the current state of the economy to reflect the latest releases of revised estimates of key data.