Q3 '16 Earnings Growth: 2.4%
Average Prediction: 2.5%
Number of Correct Forecasts: 39/558
Highest Oil Price: $53 (8th Jun)
Competition Progress: 100% complete
The rise in earnings growth continued in the third quarter of the year, as average regular earnings grew by 2.4% (compared to 2.3% in the second quarter of this year). September 2016 brought the second consecutive month of average regular earnings growth.
Predictions were more successful than last quarter, with 39 people accurately forecasting the correct rate of earnings growth, whilst 196 people were in the 2.2-2.6 range. On average, however, predictions for earnings growth were slightly optimistic. 277 people forecast a figure greater than the actual earnings growth for the third quarter.
This optimism was reflected in the predictions of our Titans. LSE’s Rain Newton-Smith was furthest away, with a forecast of 3.7%. Oxford’s Jonathan Portes was closer to the actual value with a prediction of 2.7%, whilst Cambridge’s Sean Holly came closest with a forecast of 2.5%. Sean managed to further his lead in this final update, claiming victory in the Clash of the Titans forecasting competition.