Economists, policymakers, and business leaders need better data on which to base their forecasts. Fortunately, new sources of information about the economy have recently emerged: the vast collections of private data collected by search engines and other Internet companies.
Company scans Internet data to produce real-time indicators
The Federal Reserve updates its economic forecasts every quarter. Many economists update their estimates monthly. Some forecasters run their models daily to incorporate new information.
Argentina’s macro-economic policy has been accused of being incoherent, inconsistent, and out of control. Analysts blame ‘populist handouts’ for President Cristina Fernández de Kirchner’s popularity. Yet that cannot explain approval ratings around 50 per cent after nearly 8 years in power.