We evaluate the quality of OECD's and IMF's forecasts for real GDP growth and for GDP expenditure components. We use a scaled statistic to compare the prediction models' performance across GDP components with different volatilities and decompose the GDP forecast error into the corresponding...

We assess and compare the quality of forecasts issued for Portugal, at several time spans. Our analysis, covering the 2002-2010 period, focuses on real GDP growth and the corresponding expenditure components. We use a scaled statistic to compare the forecast accuracy of GDP components with...