Evaluating the Current Evolution of GDP towards Quality

A new nowcasting technique is coupled with a quality-oriented analysis of GDP to provide a tracking tool for policies and innovations introduced by policymakers. GDP is split into quality and non-quality components in a certain reference year, then nowcasting techniques are employed to provide an estimation of the current evolution. As new monthly data are available, re-estimation can be performed, with policy-makers being given timely feedback on their actions. Data on Italy and an educated guess for Euro-zone are produced.