Alternative data specialist QuantCube Technology today announced the availability of the QuantCube Industrial Production Indicator (IPI) nowcast – providing a daily update on industrial production output in the U.S. market.
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.
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.
“The publication of the Fed’s Industrial Production Index each month has the power to move markets - so providing our customers with a daily update on industrial production gives them a vital early insight into a critical indicator of economic activity that’s closely correlated to GDP,” explained Thanh-Long Huynh, CEO and Co- Founder, QuantCube Technology. “Our customers can use the indicator to estimate economic performance and to indicate turning points in the business cycle in order to inform their investment strategies.”
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