The ITEM Club is an economic forecasting group based in the United Kingdom. ITEM stands for ''Independent Treasury Economic Model''. It was founded in 1977 to produce quarterly economic UK forecasts, which are often mentioned in the UK news media. It has been sponsored by EY (
Ernst & Young
Ernst & Young Global Limited, trade name EY, is a multinational professional services partnership headquartered in London, England. EY is one of the largest professional services networks in the world. Along with Deloitte, KPMG and Pricewaterh ...
), a firm of business and financial advisers,
"Our people"
since 1999, Ernst & Young corporate website. Retrieved on 2010-01-05. and was officially named The EY ITEM Club in 2012. The ITEM Club is clear in all its materials that it is independent of any political, academic or commercial bias despite corporate sponsorship.
The UK model is used by HM Treasury
His Majesty's Treasury (HM Treasury), occasionally referred to as the Exchequer, or more informally the Treasury, is a department of His Majesty's Government responsible for developing and executing the government's public finance policy and ec ...
for its policy analysis and biannual Industry Act forecasts for the Budget. This enables ITEM to explore the implications and unpublished assumptions behind Government forecasts and policy measures. ITEM can test whether Government claims are consistent and can assess which forecasts are credible and which are not.
Martin Beck has been the EY ITEM Club's Senior Economic Advisor since July 2021 replacing Dr Howard Archer who was in role since June 2017. Archer took over from Professor Peter Spencer, one of the UK's most distinguished economists who had held the position since 2001.
References
External links
www.ey.com/uk/economics
What is the Item club
Ernst & Young website (retrieved 24 July 2009)
Economic forecasting
Ernst & Young
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