GDPIP: A Real-time Vintage of GDP and IP for the US Economy

In ASSA: Applied Singular Spectrum Analysis (ASSA)

Description

US GDP (Gross Domestic Product) and IP (Industrial Production) ranging from from 1947 (Q1) to 2013 (Q4); the data correspond to a real-time vintage.

Usage

GDPIP

Format

A bivariate time series with 268 observations on two variables. The object is of class mts.

Source

Federal Reserve Bank of Philadelphia.

References

de Carvalho, M. and Rua, A. (2017). Real-time nowcasting the US output gap: Singular spectrum analysis at work. International Journal of Forecasting, 33, 185–198.

Examples

## Plotting GDP and IP (de Carvalho and Rua, 2017; Fig. 4)
data(GDPIP)
par(mar = c(5, 4, 4, 5) + .1)
plot(GDPIP[, 1], type = "l", 
     xlab = "Time", ylab = "Gross Domestic Product (GDP)",
     lwd = 3, col = "red", cex.lab = 1.4, cex.axis = 1.4)
par(new = TRUE)
plot(GDPIP[, 2], type = "l", xaxt = "n", yaxt = "n",
     xlab = "", ylab = "", lwd = 3, col = "blue", cex.axis = 1.4)
axis(4)
mtext("Industrial Production (IP)", side = 4, line = 3, cex = 1.4)
legend("topleft", col = c("red", "blue"),
       lty = 1, lwd = 3, legend = c("GDP", "IP"))

Example output

## ============================================== ##
## ASSA 1.0                                       ##
## ---------------------------------------------- ##
##  Copyright (C) 2018                            ##
##  M. de Carvalho and G. Martos                  ##
## ============================================== ##

ASSA documentation built on Nov. 20, 2020, 5:10 p.m.