“…Gridded observation data are used to characterize spatio‐temporal droughts and as well as for water resources management (Mishra and Singh, ; Vicente‐Serrano et al ., , ). Excessive drought and wetness affect natural habitats and ecosystems, economic and social sectors that include agriculture, transportation, urban water supply and other modern complex industries (Heim, ; Vu et al ., ). Regional drought leads to global impact on food supplies due to reduction in crop yields (Ciais et al ., ; Zhang and Zhou, ), undermines the economics and stability of governments (Sternberg, ) and regional wetness has severe implications on excessive flooding as well as flood risk management (Seiler et al ., ; Van Steenbergen and Willems, ).…”