Our Economic Sentiment Indicators (ESIs) aim to distil the message from the responses to various consumer and business surveys into one composite measure. The indicator has been trained on quarterly GDP growth, and by construction has the same mean and variance as that series. It displays less short-term volatility than quarterly GDP growth and aims to measure underlying economic activity in the economy, rather than act as the best possible predictor of GDP growth from one quarter to the next.

Fathom’s Economic Sentiment Indicators explained