Prof. Lawrence R. Klein of University of Pennsylvania has established statistical


relationships between some 75 monthly economic and financial indicators and the main


entries in the quarterly national income and product accounts (NIPA). This is so-called


Current Quarter Model (CQM). The CQM is a purely econometric system with no


personal data adjustment. Whenever high frequency indicators are available, partial


information on the United States economy can be updated, revising the current (and


next) quarter forecasts. Since there is no personal adjustment in the CQM, the CQM


forecasts on a forward rolling basis are able to tell the continuous changes in the


economy. The graphs in CQM Performance show the history of how CQM was


forecasting real GDP growth rates from both expenditure and both income sides, and


their average growth rate. As for the theory of CQM, refer to "Combinations of High


and Low Frequency Data in Macroeconometrics Models (CQM_Theory.pdf)" by Prof.


L.R.Klein and Mr. E.Sojo.