The Vital Role of Labor in Economic Forecasting

Back in June, Belinda Román, 2023’s most accurate forecaster, according to The Wall Street Journal, and CBRE Econometric Advisors’ Dennis Schoenmaker opine on the art, science and technology involved in predicting the ebbs and flows of the global economy.

Insights to Share:

• Belinda Román, Associate Professor of Economics at St. Mary’s University, expects GDP growth of 3% this year.
• CBRE EA’s Dennis Schoenmaker expects GDP to hover around 2%.
• Even with slower economic growth, there will be opportunities in commercial real estate.
• Regional, national and global forecasting requires a deep understanding of the available data.
• In commercial real estate, where information has historically been opaque, future forecasting can be enhanced by  AI.