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As the needs of different departments differ due to planning requirements for differing time horizons, the need to update forecasts also differs.
Existing forecast algorithms do not exploit these patterns, but create and update forecasts at static and arbitrary points in time, the main knob being the number of updates per cycle.
The shadow treasurer, Chris Bowen, told the ABC's Insiders program that Labor would deliver an economic statement between July and September to "reset the economic settings" and update forecasts before return to the normal budget cycle from May 2020.
Its latest summer update forecasts further growth of 1.4% in the Scottish economy next year and a return to pre-crisis growth figures of about 2% in 2015/16.
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The last update forecast 86,499 residential units through 2040.
The recent Chapman update forecast helps illuminate the strength of the local economy.
In April 2012, TSR issued their update forecast for the season, slightly revising down their predictions as well.
The Chapman University update forecast issued by the A. Gary Anderson Center for Economic Research also points to continued economic growth, albeit at a slightly slower pace.
Our updated forecasts reflect this poor performance and take account of our concerns for the second half.
(Hourly updated forecasts on the free site are limited to a three-day outlook).
The Bank is expected to clarify its position next week when it publishes its updated forecasts in the February inflation report.
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