Integrated Forecasting Framework

The Integrated Forecasting Framework (IFF) is a package of integrated forecasting tools that are designed to support both Yorkshire Forward and partners in the development and monitoring of the Integrated Regional Strategy (IRS). Fundamentally, the IFF is delivered via the Regional Econometric Model (REM).

Regional Econometric Model (REM)

Since 2001, Yorkshire Forward has been working with Experian Business Strategies Ltd to develop our own Regional Econometric Model (REM). It is developed, maintained and managed by our Chief Economist’s Unit and by Experian, in consultation with the REM User Group.

Whilst the uncertainties in the wider global economy make economic forecasting difficult, the forecasts in the REM remain the most robust and reliable assessments of key economic variables at the Regional and Sub Regional Level. We update the forecasts every quarter to ensure that our figures capture events occurring in the economy as quickly as possible.

Who can access the model?

The model is only available to wholly public-sector organisations in Yorkshire & Humber, via an annual subscription. Current subscribers can access the online version of the Regional Econometric Model.

What’s in it?

The REM is updated twice a year. It provides historical data and forecasts on 30 industry sectors between the years 1986 and 2025. The range of data available includes:

• Content of the model
• Output
• GVA
• Productivity
• Full-time, part-time, self-employed and full-time equivalent employment
• Population
• 30 occupations
• Occupation expansion & occupation turnover
• Qualifications
• Unemployment
• Migration
• Full-time equivalent and output forecasts for three-digit SIC codes
• Full-time equivalent forecasts for three-digit SOC codes.

Which areas are covered?

• UK
• Yorkshire & Humber
• The 4 Yorkshire & Humber sub-regions
• The 21 local authority districts in Yorkshire & Humber
• Yorkshire & Humber city regions.

Contact

The first point of contact for further information about Yorkshire Forward’s REM is Stuart Kielty, Economic Reporting Manager in the Chief Economist Unit.
Email: Stuart.kielty@yorkshire-forward.com
Tel 0113 394 45732.