EthiFinance Ratings, awarded at the Analyst Forecast Awards 2024 for the fourth consecutive year in a row

EthiFinance Ratings, an independent European rating agency, has once again received the Analyst Forecast Awards from the economic analysis entity FocusEconomics, in the Fiscal Balance category for Spain, recognizing the company’s work for the fourth consecutive year and for the third time in this specific category.

Specifically, the award recognizes EthiFinance Ratings’ specific expertise and accuracy in Real Sector forecasting, as well as the company’s analysts’ in-depth knowledge of the specific factors that influence the sector and their ability to make accurate forecasts in this area.

“Our forecasting models are based on the use of complex macroeconomic techniques with external and internal data related to business behavior, the macroeconomic situation, etc., which allows us to have a clear and precise vision of the macroeconomic scenario in which our ratings operate in the medium and long term,” said Antonio Madera, Chief Economist and Chief Rating Officer of Sovereign, Structured and Financial Institutions EthiFinance Ratings.

This is not the first time EthiFinance Ratings has won an award from FocusEconomics, as in 2021 it received three first places in the General, Interest Rate and Fiscal Balance categories, as well as a fourth place in Gross Domestic Product. Furthermore, in 2022, it was awarded two first places in the General and Fiscal Balance categories, and a third place in the Current Account category. Finally, in 2023, the company was recognized as the second best forecaster in the General and Current Account categories.

The award-winning institutions include the most reputable international forecasting companies, joined once again by EthiFinance Ratings for the fourth consecutive year. The award thus consolidates the agency’s position as an independent European rating agency and places it among the leading players in the sector.

To identify the best economic forecasters, FocusEconomics has evaluated the accuracy of the Real Sector forecasts submitted by more than 668 institutions to its Consensus Forecast survey over 22 months. Economists are evaluated on the average of their forecast errors for forecasts submitted to our monthly survey over the past 22 months. Errors are defined as the absolute difference between an individual forecast and the actual outcome of the macroeconomic indicator or commodity price.

In the words of Arne Pohlman, Chief Economist and Managing Director of FocusEconomics, in a note shared to EthiFinance Ratings to announce the award, “The FocusEconomics Analyst Forecast Awards celebrate the exceptional contributions of more than 1,500 economists from around the world who serve on our panel and produce and update reliable economic forecasts annually.”