Nowcasting is a combination of two terms: “now” and “forecasting.” Economic indicators are often released with a considerable delay, but there is usually intense interest in knowing what a given indicator is before its official release. Nowcasting refers to the prediction of the present, the very recent past, and the very near future—in essence, trying to fill in that missing data point with an accurate estimate. Often, nowcasts take advantage of higher-frequency data that are informative about some other economic indicator to predict what the next release of the indicator of interest will say.