GDP Now data for all Swiss cantons
What is the economic situation in Grisons? Are there signs of a recession or an economic upturn in the canton of Neuchâtel? Such questions have been difficult to answer until now, as the data on current economic developments in Swiss cantons is very patchy. The Federal Statistical Office (FSO) provides provisional data on the gross domestic product (GDP) of the cantons with a delay of around two years. Promptly published data on unemployment in the cantons typically lags behind current economic developments.
Prof. Dr Peter Moser and Dr Adhurim Haxhimusa from the Center for Economic Policy Research at the University of Applied Sciences of the Grisons (FHGR) have therefore implemented a project. The aim of this project is to enable systematic monitoring of regional economic development based on various real-time data. Furthermore, to close a gap in economic monitoring and provide added value for public and private decision-makers.
This research project resulted in the Swiss Regional Economic (Swiss REco) Dashboard. Access to the dashboard is distributed exclusively by our partner hpo forecasting ag. The Swiss Regional Economic Dashboard is updated on an ongoing basis and contains comprehensive data and visualizations on economic development in the individual cantons of Switzerland. At the heart of the dashboard is the Swiss Regional Economic Index, which provides an estimate of current economic development ("GDP Nowcast") for all Swiss cantons.
The calculation of the Swiss Regional Economic Index is based on established methods described in the following scientific publications of the US Federal Reserve System (Fed) and the Swiss State Secretariat for Economic Affairs (SECO):
- Fed (2020): "Measuring Real Activity Using a Weekly Economic Index"
- SECO (2021): "Weekly Economic Activity: Measurement and Informational Content"
Your advantages
Current data
The focus is on currently available data in good quality. This includes data on payment transactions, electricity consumption, transport, job advertisements, the labor market, exports/imports and overnight stays. Estimates of cantonal GDP growth rates for the previous month (Swiss Regional Economic Index) are available in the dashboard with a time delay of 20-30 days in each case.
Reliable estimates of GDP growth rates
The Swiss Regional Economic Index was compared with real growth rates and the results are very satisfactory. Although only data that is currently available and regionally differentiated is used to calculate the index, the stimates of GDP growth rates of the Swiss Regional Economic Index are very close to the official GDP growth rates published much later.
Regional focus
Since the Covid crisis, the Swiss State Secretariat for Economic Affairs (SECO) has published an index of weekly economic activity for Switzerland. This is comparable with the Swiss Regional Economic Index for Switzerland as a whole. By focusing on the regional economy and providing reliable GDP estimates for each canton, an important gap has been closed.
Informative graphics
Numerous economic data are processed in the Swiss Regional Economic Dashboard. All relevant data is presented in an attractive graphic format for better understanding. Users can customize the views with just a few mouse clicks. Great importance was attached to intuitive usability. In almost all cases, the data for the graphs displayed can be downloaded as Excel files.
Do you have any questions?
Barbara Breig
Business Development
hpo forecasting ag
