Spain Employed Persons

The point forecast beat the no-change baseline overall and in a majority of the evaluated tests.

Model: Agentic Investor TSFM (foundation model)

Accuracy vs naive

+39%Beats the no-change baseline over 8 tests (8 tests, 8 won)

Direction

84%No clear edge over a coin flip (27 of 32 calls right in 8 tests)

Turning points

10 of 14Anticipated most turns (14 turns in 8 tests, 0 without a turn)

Error vs baseline

39% lowerError ratio 0.61; 1.00 is a tie.

Tests won

8 / 8Complete rolling backtests; ties count as no win.

Test period

2018-12-01 to 2026-09-014 observations ahead per test.

80% band coverage

91%Observed outcomes inside the band across all stored test windows.

• Band coverage uses all stored test windows, including model-selection windows when present; it does not determine the confidence label.
• The 80% band held more than expected outcomes; interpret its width with care.
• Evaluated 2026-11-14 against the cached history through 2026-09-01.
• This is an evaluation of the serving model; it does not establish a winner across four model classes.