Evaluating the Role of Global Factors in GDP Nowcasting

Konstantin S. Rybak – Junior Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

This work shows that use of more than two global factors in standard factor-augmented model leads to significantly better nowcasts of Russian GDP growth rate. Global inflation and nominal factors are available for estimation almost in real-time which leads to earlier and better nowcasts.

Key words: GDP nowcasting, factor model.

JEL-codes: C53, C82, C38, E27.