FRED Data Issue

Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • #56305
    AvatarThomas F.
    • Topics: 39
    • Replies: 43
    • Posts: 82

    Hi,

    I have done some economic research with the FRED data.

    Concerning the data series “PCEPILFE” and “PCEPI” there is a major data error. The index value on both data series drops very extreme from April 2018 to May 2019. Using the original data series on the FRED web page this drop isn’t there.

    I have also recognized that the data older than one year is not the same as on the FRED web page. This is also true with the data series “CPIAUCSL” and “CPILFESL”.

    It seems to me that the FRED data base should be updated completely new to reflect the readjustments that are usually the case with economic data.

    I know of course that Optuma is not responsible for the FRED data but perhaps you can contact the database vendor to update the data files.

    It is interesting to note that the Optuma FRED database has different data than the FRED web page. Shouldn’t the database not the same?

    Thanks

    Thomas

    #56425
    MatthewMatthew
    • Topics: 4
    • Replies: 226
    • Posts: 230

    Hi,

    The data files have been updated, the data should update automatically the next time the files are open but you can also force the updated data down using Option 2 listed here:

    https://help.optuma.com/kb/faq.php?id=793

    #56445
    AvatarThomas F.
    • Topics: 39
    • Replies: 43
    • Posts: 82

    Hi Matthew,

    thanks for your answer. I have updated the data files but unfortunately the data for the “Personal Consumption Expenditures Excluding Food and Energy” is still not corrected.

    I have attached two screenshots, so you can see the data issue.

    On the FRED the web page is: https://fred.stlouisfed.org/series/PCEPILFE#0

    Thanks

    Thomas

    Attachments:
    #56463
    MatthewMatthew
    • Topics: 4
    • Replies: 226
    • Posts: 230

    Hi,

    Did you force the data down using Download History as per Option 2 in the article i sent in my original reply? This is how the data is displaying in my copy of Optuma after forcing the updated data down:

    Ex1

    The dip in value around 2018 no longer displays.

    1 user thanked author for this post.
    #56465
    AvatarThomas F.
    • Topics: 39
    • Replies: 43
    • Posts: 82

    Hi Matthew,

    thanks again for your answer. I did yesterday the update as you have recommended.

    Today I have deleted the whole data file so that Optuma has to create it new and today the data is correct. The dip around 2018 is gone.

    Thanks

    Thomas

Viewing 5 posts - 1 through 5 (of 5 total)
  • You must be logged in to reply to this topic.

Pin It on Pinterest

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close