Friday, July 31, 2015

Bloomberg picks Philadelphia's Joel Naroff as top economic forecaster

The financial news service crunched the numbers submitted by 126 forecasters and determined the self-employed Naroff was the most accurate over a 10-quarter period.

Bloomberg picks Philadelphia's Joel Naroff as top economic forecaster


Bloomberg News has picked Philadelphia-area economist Joel Naroff as the top forecaster of the U.S. economy.

The financial news service rated 126 economists on their predictions for gross domestic product, unemployment, the consumer price index and the Federal Reserve's benchmark interest rate. The survey covered 10 quarters between January 2006 to June 2008.

You can read Bloomberg's story about how it picked Naroff here.

Naroff, 59, is a self-employed economist who works out of his home in Holland, Pa. He also serves as Commerce Bank's chief economist.

His forecasts on CPI, the fed funds rates and unemployment helped him top Bloomberg's list of forecasters, most of whom work for large financial institutions.

Bloomberg reported that a September 2005 trip to Arizona convinced Naroff that housing prices were out of control when he heard real estate agents expecting home prices to surge 40 percent for the second straight year.

Inquirer Columnist
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy: comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
comments powered by Disqus
About this blog

Mike Armstrong Inquirer Columnist
Also on
letter icon Newsletter