IDEAS home Printed from https://ideas.repec.org/p/bca/bocsan/20-1.html
   My bibliography  Save this paper

Characterizing Breadth in Canadian Economic Activity

Author

Listed:
  • Taylor Webley
  • Carla Valerio
  • Maureen MacIsaac

Abstract

Real growth in gross domestic product tends to be meaningfully higher when a large share of industries and demand components are growing—that is, when growth is broad across many fronts. We present a simple new indicator, the overall breadth indicator (OBI), to measure how widespread economic activity is in Canada, allowing us to place recent data in historical context. The relationship between the OBI and the output gap is strong contemporaneously and one quarter ahead. Beyond that, however, the signal from the OBI is less robust.

Suggested Citation

  • Taylor Webley & Carla Valerio & Maureen MacIsaac, 2020. "Characterizing Breadth in Canadian Economic Activity," Staff Analytical Notes 2020-1, Bank of Canada.
    • Handle: RePEc:bca:bocsan:20-1
    as

    Download full text from publisher

    File URL: https://www.bankofcanada.ca/2020/02/staff-analytical-note-2020-1/
    File Function: Abstract
    Download Restriction: no
    File URL: https://www.bankofcanada.ca/wp-content/uploads/2020/02/san2020-1.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Tony Chernis & Rodrigo Sekkel, 2018. "Nowcasting Canadian Economic Activity in an Uncertain Environment," Discussion Papers 18-9, Bank of Canada.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Knotek, Edward S. & Zaman, Saeed, 2023. "Real-time density nowcasts of US inflation: A model combination approach," International Journal of Forecasting, Elsevier, vol. 39(4), pages 1736-1760.
    2. Patrick Rizzetto, 2018. "GDP by Industry in Real Time: Are Revisions Well Behaved?," Staff Analytical Notes 2018-40, Bank of Canada.

    More about this item

    Keywords

    Business fluctuations and cycles;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bca:bocsan:20-1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/bocgvca.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.