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Media reports as an economic activity indicator

Jan Grossarth-Maticek and Johannes Mayr ()

ifo Schnelldienst, 2008, vol. 61, issue 07, 17-29

Abstract: The study examines the extent to which media reports on economic activity can themselves serve as economic indicators alongside the classical monthly business indicators, such as the Ifo Business Climate Index, industrial production or incoming orders in manufacturing. The study generated indicators on the basis of media reports and analysed their quality as forecasting instruments of economic activity. A comparison with the Ifo Business Climate Index shows that the indicators based on media reports indeed display forecasting qualities for real macroeconomic developments.

JEL-codes: C52 C53 E30 (search for similar items in EconPapers)
Date: 2008
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Handle: RePEc:ces:ifosdt:v:61:y:2008:i:07:p:17-29