Evaluation of the Eurozone Economic Outlook

The Ifo Institute, together with INSEE (Paris) and Istat (Rome), makes quarterly forecasts of real gross domestic product, inflation, consumption, investments and industrial production in the euro area, in the Eurozone Economic Outlook (EZEO). This article assesses the quality of EZEO forecasts for real gross domestic product and inflation. Forecast error analyses show that there is no significant statistical difference between the forecasts by the EZEO and Consensus Economics.