EthiFinance Ratings awarded for the second consecutive year as the best forecaster in the Analyst Forecast Awards granted by FocusEconomics

02th June of 2022

For the second consecutive year, the European credit rating agency has been awarded at the Analyst Forecast Awards 2021 organized by the economic analysis provider Focus Economics. EthiFinance Ratings has obtained the first place among the analyst houses operating in Spain in the categories of: general macroeconomic indicators and fiscal balance and the third place in the current account category.

For the second consecutive year, the Research Team of EthiFinance Ratings, has been awarded in the Analyst Forecast Awards of this year 2022 granted by the economic analysis firm, Focus Economics.

The analysis team of the European credit rating agency -which arises from the merger of Axesor Rating and Qivalio- has obtained three of the six awards granted by the prestigious house: general macroeconomic indicators, fiscal balance and current account for Spain. In addition, in the first two EthiFinance Ratings has obtained the first position.

"It is once again an honor to receive this award for the second consecutive year. The Analyst Forecast Awards are a recognition of the work we have been doing in recent years. Especially at a time marked by high volatility and when, without having overcome the impact of the pandemic caused by COVID-19, economies have to face the outbreak of the war in Ukraine, which has pushed inflation to record highs and is pushing back investment and consumption. The high uncertainty has forced us to adapt predictive models almost constantly to a situation that has forced us to relearn, leaving behind that which biases our vision to observe the small nuances that may go unnoticed," said Antonio Madera, head of sovereign ratings and financial institutions at EthiFinance Ratings after hearing the news of the award.

Likewise, Madera referred to the importance of the digitalization of EthiFinance Ratings' economic team which, in recent years, has systematically implemented high value-added technologies such as big data in predictive processes "we consider that predicting would be difficult without first investigating and taking advantage of the potential of high frequency data and big data techniques for the construction of different economic scenarios".

On the other hand, it should be noted that the European credit rating agency has incorporated in its methodologies the assessment of ESG criteria, which are increasingly important and decisive in the evolution of economies, markets and companies.

About the Analyst Forecast and Focus Economics

The Analyst Forecast Awards recognize the work of the most accurate economic forecasters on the main macroeconomic indicators of 91 countries. To identify the best analysts, the forecasting accuracy of 350 institutions has been evaluated over a 22-month period. Winning institutions include the world's most recognized global forecasting firms and international banks.

"The FocusEconomics Analyst Forecast Awards demonstrate the outstanding work of the more than 1,500 of the world's leading economists on our panel who, despite the challenges posed by the Covid-19 pandemic, continued to produce and update reliable economic forecasts during a very challenging year. Each year, we are pleased to recognize the most accurate forecasts for key macroeconomic indicators and commodities provided by the institutions participating in our Consensus Forecast," says Arne Pohlman, Chief Economist and Managing Director of FocusEconomics, in the statement sent to EthiFinance Ratings.