We build big data retail trade indicators for Spain using high-dimensional card transaction data from one of the country’s biggest banks. The resulting indicators replicate the dynamics of the Spanish retail trade indices (RTI), regional RTIs (Spain’s autonomous regions), and RTI by retailer type (distribution classes) released by the Spanish National Statistics Institute. The new indicators not only have a higher frequency (daily data) and higher geographical and sectorial breakdown but are also shown to improve nowcasting and forecasting power for the official RTI, making them key variables to monitor consumption.

中文翻译：

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使用卡交易数据实时测量和预测零售贸易

我们使用来自该国最大银行之一的高维卡交易数据为西班牙建立了大数据零售贸易指标。结果指标复制了西班牙国家统计局发布的西班牙零售贸易指数（RTI），区域RTI（西班牙自治区）和RTI（按零售商类型）的动态。新指标不仅具有更高的频率（每日数据）以及更高的地理和部门细分，而且还显示出可以提高官方RTI的临近预报和预测能力，使其成为监测消费的关键变量。