This study from the Bureau of Economic Analysis explores the potential of using credit and debit card transaction data to improve real-time consumer spending estimates. By integrating multiple commercial datasets, the analysis reveals that blending sources increases accuracy and stability compared to relying on a single provider. The report evaluates how well these data track with national benchmarks, forecast official consumption metrics, and estimate state-level spending with promising results. During volatile periods like the COVID-19 pandemic, these datasets offered timely economic insights when traditional sources lagged behind.
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Website: | Visit Publisher Website |
Publisher: | Bureau of Economic Analysis |
Published: | April 1, 2025 |
License: | Public Domain |