In Part II, we continue our assessment the alternative datasets that can enhance nowcasting models. In this report, we focus on the datasets that track business activity, consumer spending, oil prices, inflation and central bank sentiment.

The outbreak of coronavirus was a massive shock to an already fragile global economy – causing many markets to slip into recession earlier last month. Much about COVID-19 remains uncertain, however, alternative data can offer investors and policymakers greater clarity on its most damaging impacts. We outline the datasets that offer timely signals of the most affected areas of the global macroeconomy.