R&D Intensity Gap

Best broad, cross-country measure of how much each bloc is reinvesting in future technological capability.

-1.2pp

Trend YoY growth is +0.0%, accelerating by 3 bps/year over the last 5Y. Latest: +0.1%, 7 bps above trend, a 1.2σ deviation.

Level

YoY %

y = −0.2% + 3 bps/yr · t

Deviation from trend

Forecast

Projected value by forecast vintage (pp)

Projected value (pp)

Forecast made in201620172018201920202021202220232024202520262027MAPE
2016-0.7-0.9-0.9-1.0-1.2-1.4-1.6-1.6-1.6-2.1-2.6-3.2419%
2017-0.7-0.8-0.9-1.0-1.2-1.3-1.4-1.3-1.4-1.5-1.696%
2018-0.8-0.9-1.0-1.2-1.3-1.4-1.3-1.4-1.6-1.8107%
2019-0.9-1.0-1.3-1.4-1.4-1.3-1.5-1.7-1.9130%
2020-1.1-1.4-1.5-1.6-1.5-1.9-2.3-2.7388%
2021-1.2-1.4-1.5-1.4-1.7-2.0-2.3458%
2022-1.3-1.3-1.2-1.3-1.3-1.4225%
2023-1.2-1.1-0.9-0.7-0.5
2024-1.1-0.9-0.7-0.5

YoY change forecast

Forecast made in201620172018201920202021202220232024202520262027MAPE
2016-0.1%-0.1%-0.2%-0.2%-0.3%-0.3%-0.3%-0.4%-0.4%-0.5%-0.5%-0.6%419%
2017+0.0%-0.1%-0.1%-0.1%-0.1%-0.1%-0.1%-0.1%-0.1%-0.1%-0.1%96%
2018-0.1%-0.1%-0.1%-0.1%-0.1%-0.1%-0.1%-0.1%-0.1%-0.2%107%
2019-0.1%-0.1%-0.1%-0.1%-0.1%-0.2%-0.2%-0.2%-0.2%130%
2020-0.2%-0.2%-0.2%-0.3%-0.3%-0.4%-0.4%-0.4%388%
2021-0.1%-0.2%-0.2%-0.2%-0.3%-0.3%-0.3%458%
2022+0.0%-0.1%-0.1%+0.0%+0.0%+0.0%225%
2023+0.1%+0.1%+0.2%+0.2%+0.3%
2024+0.1%+0.2%+0.2%+0.3%

Forecasts use ordinary least-squares linear regression fitted to the YoY change series over a rolling 5Y window. Each row shows a vintage — the forecast as it would have appeared at that point in time. Projected values apply the forecasted YoY change to the prior year's level, chaining forward where actuals are unavailable. MAPE measures forecast accuracy against realized values. These are mechanical trend extrapolations, not economic models.