DFROG: Dutch Forecasting Model for Real Time Output Growth

DFROG is a dynamic factor model used to make short-term forecasts for quarterly GDP growth in the Netherlands.

The model uses approximately 80 monthly series (surveys, production and sales figures, financial market indicators, prices) to make forecast for the previous, current and next quarter. The forecasts are updated at least six times a year (after the release of new quarterly GDP figures and for the bi-annual DNB forecasts.