Sentiment Indexes and Economic Activity Indicators in Mexico 2016-2021

Torre Leonardo, González Eva, Casillas Ramón and Alvarado Jorge

No 2022-18, Working Papers from Banco de México

Abstract: This paper uses, for the first time, information in text format from 9,802 interviews performed between January 2016 and January 2021 from the Programa Trimestral de Entrevistas a Directivos, employed to elaborate Banco de Mexico's Regional Economic Report, to estimate regional and national sentiment indexes. These indexes are next associated with different "soft" and "hard" data of economic activity. The results show positive and statistically significant correlations between both types of indicators, mainly at the national level, suggesting that data in text format contained in the Programa Trimestral de Entrevistas a Directivos can be useful to complement the information provided by traditional indicators of economic activity.

Keywords: Sentiment Analysis; Regional Analysis; Mexico (search for similar items in EconPapers)
JEL-codes: C45 R11 R15 (search for similar items in EconPapers)
Date: 2022-12
New Economics Papers: this item is included in nep-big and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:bdm:wpaper:2022-18

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