Google, Search, Economic Predictions

Could Google Be an Economic Magic 8-Ball? - Canada Real Time - WSJ: "The world’s dominant search engine could have predicted the global recession up to three months before its onset, based on the rising use of the search terms “recession” and “jobs,” according to Greg Tkacz, associate professor and economics chairman at St. Francis Xavier University in Antigonish, Nova Scotia. Many of the world’s official economic indicators are released with a time delay or at infrequent intervals, or require significant revisions after their release, Mr. Tkacz said in a report released by the C.D. Howe Institute, a Toronto-based think tank.  But Google Trends search data offer more timely glimpses into the economic well-being of hundreds of millions of people, he said." (read more at link above)




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