Toward more relevant economic indicators
You know all those economic indicators that get so much press? Things like employment reports, housing starts, the consumer price index, the producer price index, GDP and so forth? Well, NPR's Marketplace had a segment today--part of their "Economy 4.0" series--that questions whether these indicators are as relevant as they should be to the lives of average people. And since we don't tend to pay as much attention or take as much action with things we don't measure, maybe it's time for some new indicators.
Google, it seems, has an ongoing project to develop its own price index--and one that would be updated daily, or maybe even in real time, rather than monthly.
Google, it seems, has an ongoing project to develop its own price index--and one that would be updated daily, or maybe even in real time, rather than monthly.