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We believe that a well-informed and well-managed economy generates a wide range of societal benefits, from job creation through to tackling global issues such as climate change.
Fable Data was created from the ambition to provide government, business and academia with access to such real-time quality economic data sets, to inform their vital global decision making.
The next generation of economic statistics
Enabling better outcomes for everyone
For too long, official economic measurements have relied on data sets that are too small, skewed or lagged to enable any meaningful results.
We are helping to establish a new wave of reliable economic indicators based on high-frequency, large-scale quality datasets that are accurate and predictive.
Fable Data in Action 2: Fable Data and the University of Nottingham
Track the Economy is a not-for-profit research institute at the University of Nottingham. They have developed the TE dashboard, which aims to support managerial decision making and policy formulation by providing real-time insights on UK regional economic activity. The aggregated real-time data dashboard includes Fable’s transaction data.
Fable Data in Action 1: Fable Data and the Deutsche Bundesbank
The Bundesbank, the German central bank, is acknowledged as one of the leading financial institutions in the world. The COVID-19 crisis highlighted to the bank that there was a need for economic indicators to be available more quickly. Fable’s data now underpins the Bundesbank’s Weekly Activity Index, providing a timely read on economic activity in Germany.
“High quality, timely, data is of incredible value and importance for good public policy making. Sadly, governments often end up having to use data which is neither timely nor sufficiently robust.
Fable is able to produce data and analysis which gives both the public and private sectors the insights they need, when they need them”
Rt Hon. David Laws, Former UK Government Minister & Fable NED
Fable Data in Action 3: Fable Data Informs New IMF Inflation Paper
Using Fable’s transaction data for the UK and Germany, the International Monetary Fund (IMF) has released a Working Paper on changing consumption patterns, and the resulting inflation bias during the COVID-19 pandemic. The paper uses Fable’s data to update the official inflation weights and quantify the resulting inflation bias, as official weights become outdated when consumption habits change quickly.
The Bank of International Settlement (BIS) /The Irving Fisher Committee (IFC) in collaboration with the Bank of Italy has just released its Bulletin on Data Science and Machine Learning in Central Banking. This includes a report on card based payments, and the unique emerging data science opportunities that card data can provide. The study references Fable’s consumer transaction data.