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University’s real-time GDP tracker ‘may be a world first’

A website that uses live data sources and machine learning algorithms to provide real-time GDP forecasts and a daily update on New Zealand’s economic performance has been developed by Massey University.

According to a university statement, the GDP tracker may be the first of its kind worldwide and offers “a significant improvement” for NZ businesses on quarterly economic reports released by government agencies. It will also offer a real-time alternative to NZ regional GDP reports, which are released annually by the government.

Called GDPLive, the system was developed and tested over three years by economist Christoph Schumacher and computer scientist Teo Susnjak from the university’s Knowledge Exchange Hub, which works with NZ industries on data analysis projects.

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