Inforum Forecasting

Inforum provides a wide variety of economic forecasts tailored to the needs of its research sponsors. Inforum also collects and develops data, both to aid model building and assist its sponsors.

    Inforum produces forecast semi-annually for its sponsors using the LIFT model. This is both an industry forecast as well as a macroeconomic forecast. The forecast is for the United States on an annual basis. These forecasts include such macroeconomic variables as:

    • GDP
    • Inflation
    • Wages
    • Unemployment
    • Total Imports
    • Total Exports

    Unlike other macroeconomic models, the Inforum LIFT model need not impose GDP or other control totals on the industry detail. Instead, it determines macro aggregates by summing industry-specific results. Total exports, for instance, is the sum of exports of various products, such as steel, motor vehicles, and semiconductors. Each product's exports are determined by industry-specific prices and demand. In LIFT, as in the actual economy, the micro economy has macroeconomic implications. An increase in auto exports increases total exports. A steel tariff increases the average price of aggregate imports. Likewise, an improvement in agricultural labor productivity leads to a higher level of real GDP, while a decrease in the profitability of airlines automatically decreases total profits.

    The Inforum approach of an integrated, structural model permits feedback from the industry detail to the macro aggregate and provides a rich simulation environment for analyzing the industrial consequences of economic changes.

    Inforum's Long-term Interindustry Forecasting Tool (LIFT) provides forecasts for macroeconomic and industry variables to the year 2030 and bridges the gap between aggregate economic activity measured by GNP or GDP and the specific markets in which the products are sold. These forecasts provide valuable information for up to 110 detailed industries on:

    • Future production
    • Consumption
    • Imports
    • Exports
    • Labor costs (including Social Insurance and health insurance contributions)

    For those who need even greater industry detail, Inforum also produces forecasts for up to 360 industries in our detailed model Iliad. This model forecasts future production, consumption, imports, and exports. The model also produces a sales forecast that shows sales of an industry to each of its customers. This enables analysts to identify future sources of growth for a given product. An industry's customers include those who purchase products for intermediate use (i.e. other producers) as well as those who purchase products for final consumption (i.e. consumers, government, and exports).

    I-O tables, bridge matrices, and associated historical data and projections.

    Inforum has developed a Demographic Projections Model (DPM) to provide population forecasts to 2080 based on assumptions about fertility rates, survival rates, immigration, and population levels in the economy. The model originally was developed to facilitate analysis of Social Security and Medicare Trust Fund issues. Demographic forecasts from the model are fed into our Long Term Interindustry Forecast. When used together with Inforum's LIFT model, the demographic projections model can answer the following types of questions:

    • How will changes in immigration policy affect the solvency of the Social Security Trust Fund?
    • How will changes in immigration policy affect manufacturing employment/unemployment?
    • What would be the impact on overall spending if there were a baby boom?
    • What would be the impact on the economy if infant mortality rates were reduced?
    • What would be the impact of increased life expectancy on the economy?

    Inforum provides forecasts of employment for 341 occupations as an integral part of the LIFT model. These occupational forecasts are derived from our long term interindustry forecasts and are based on the Bureau of Labor Statistics matrix of occupational employment by industry. This model enables the user to answer questions such as:

    • How will the recent regulations on trucking affect employment for truck drivers?
    • How will future constraints on health care spending affect employment for radiologists?
    • What effects will a faster growing defense budget have on the demand for scientists and engineers?
    • Which occupations will benefit the most from the growth of the "Digital Economy"?

    Inforum has developed an international system of 13 detailed country models that are linked through trade flows and prices for each industry. The countries include:

    • United States
    • Mexico
    • Korea
    • Germany
    • United Kingdom
    • Spain
    • Belgium
    • Canada
    • Japan
    • China
    • France
    • Italy
    • Austria

    The models provide detailed forecasts for up to 100 different industries for:

    • Output/Production
    • Consumption
    • Prices
    • Employment and Wages
    • Capital Investment
    • Exports and Imports

    In addition to industry detail, forecasts of aggregate macroeconomic indicators are also available for:

    • GDP/GNP
    • Price Level
    • Unemployment Rate
    • Interest Rates

    Model Methodology

    For more information on our International Partners and their models, click here.

    Inforum is a research organization dedicated to improving business forecasting and government policy analysis. For over forty years, its forecasts, models, and research services have been used by American and international businesses and governments. Inforum's forecasts and analysis are based on economic models that combine input-output analysis with econometric equations for consumer and investment behavior to forecast output, prices, and employment for up to 360 detailed industries to the year 2030.


    Inforum produces a sales forecast that shows the sales of an industry to each of its customers both historically and forecasted to 2030. An industry's customers include those who purchase products for intermediate use as well as those who purchase products for final consumption. The sales forecasts make it possible to identify future sources of growth for any product, and consequently is a valuable tool for business analysts.


    Forecasts for key variables by industry are also available from Inforum. These forecasts provide valuable information on future production, consumption, imports, and exports for a specific industry. In addition, forecasts of input costs such as labor and capital are provided.


    In addition to understanding how a given industry is doing, it is important to also understand what is expected for the overall economy. Expected changes in interest rates, government spending, and overall prices will have a direct effect on a given industry. To meet these needs, Inforum provides forecasts for key indicators of the macroeconomy.


    Many times the needs of users go beyond a standard forecast and require special studies. Inforum's models are uniquely qualified to simulate the impact of changes in policies on a particular industry.

    • What will be the impact on the electronic components industry if federal defense procurement starts to increase?
    • What will the implementation of a carbon tax do to the competitiveness of the U.S. petroleum industry?

    For examples of Inforum studies please see our Analysis page.

    In addition to forecasts of product output, Inforum offers sales forecasts by industry, where industries are defined by NAICS definitions. This information is useful to clients who work with NAICS industry data. In some cases, such as the Retail sales sectors, much more detail is available with the NAICS industry forecasts than with the product output forecasts.

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