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Posts Tagged ‘Government’

Economic forecasting – not an exact science. The Bank of England Forecast

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Economic forecasting

An economic forecast refers to making prediction about the economy and identifying increasing, stagnant or declining trends. Economic forecasts are provided by international organizations like the International Monetary Fund (IMF) or the World Bank, but also by national governments and financial institutions. Forecasting is based on series of KPIs like $ Gross Domestic Product (GDP), % Inflation, % Unemployment or $ Fiscal deficit.

Non-financial KPIs monitored by Auckland Tourism, Events and Economic Development

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Non-financial KPIs

The Auckland Tourism, Events and Economic Development (ATEED) is a regional economic growth agency that provides a coordinated approach to enhancing Auckland’s business, export and tourism economy on behalf of the Auckland Council.

In the process of achieving its mission ATEED has established a list of Key Performance Indicators (KPIs) that it measures in order to monitor its performance in reaching desired goals.

Government agencies and KPIs

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government agencies kpis

KPIs are measurements that define and track specific business goals and objectives that often roll up into larger organizational strategies that require monitoring, improvement, and evaluation. KPIs have measurable values that usually vary with time and also targets to determine a score and performance status. Moreover, they include dimensions to allow for more specific analysis, and can be compared over time for trending purposes and to identify performance patterns.

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