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The ECB launched a pilot using satellite NO₂ data to boost oil demand forecasts and economic nowcasting, improving policy decisions with real-time, privacy-safe insights.
The European Central Bank has launched a pilot project giving researchers access to confidential data to improve economic analysis, particularly in forecasting oil demand using satellite-derived nitrogen dioxide (NO₂) levels.
Daily NO₂ measurements—linked to fossil fuel combustion—enhance nowcasting accuracy across advanced and emerging economies, especially during crises, with non-linear models like neural networks showing the greatest gains.
The data offer a timely, global, and free proxy for real-time economic activity, supporting better-informed policy decisions while maintaining data privacy and transparency.
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El BCE puso en marcha un proyecto piloto que utiliza datos satelitales de NO2 para impulsar las previsiones de la demanda de petróleo y las previsiones económicas actuales, mejorando las decisiones políticas con información en tiempo real que protege la privacidad.