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The accuracy of forecasts in business cycle research of service companies

Author(s): Grzegorz Kowalewski
Subject(s): Economy, Business Economy / Management
Published by: Główny Urząd Statystyczny
Keywords: business trends; business condition test method; forecasting methodology; services market

Summary/Abstract: The article presents the accuracy of service companies’ predictions based on data from economic surveys conducted by the CSO. For this purpose, were used two ex post measures, i.e. Theil coefficient and the divergence coefficient for differences. In the situation of poor accuracy of predictions were diagnosed the causes of this fact: they were mostly over-predictions, as well as (though to a lesser extent) inaccurate forecasting turning points.

  • Issue Year: 57/2012
  • Issue No: 04
  • Page Range: 30-40
  • Page Count: 11
  • Language: Polish