ABN AMRO economists named 'best forecasters in the Netherlands'

The international prize is awarded annually in various countries based on the accuracy of economists' predictions regarding gross domestic product and inflation in their country. Aggie is especially pleased with the recognition that winning this award represents: “Using fully anonymised and aggregated real-time bank transaction data plays an increasingly important role in creating our economic outlook. This data keeps us on top of what’s really happening in the economy. At a time where economic uncertainty is greater than ever all over the world, it’s especially valuable to be able to provide direction with our analyses. This fantastic award confirms that our forecasts are on the right track.” Jan-Paul agrees: “Our data gives us an advantage, although it still takes a good deal of expertise to make forecasts during times of economic shocks and geopolitical uncertainty.”

The competition is fierce, with 15 parties vying for the title. Significant strides have been made in recent years to structurally improve prognoses. Forecasting is not an exact science, but it does call for insight, accuracy and experience. “Achieving this together is the cherry on the cake of our teamwork. It’s also great news for the bank, as our forecasts are used in a lot of commercial and risk processes.”

The award is presented annually by Consensus Economics, which has been collecting and comparing the monthly forecasts produced by financial institutions in the various countries since 1989.