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To: GROUND ZERO™ who wrote (36606)	8/17/2012 1:05:28 PM
From: Challo Jeregy	1 Recommendation Read Replies (1) \| Respond to of 222153

interesting - goog as an economic indicator - -------------------------------- Google: Central Banks' New Economic Indicator . . . . The development of Google as an economic tool started with a hunch at Google’s Mountain View (Calif.) headquarters. After developing a new website reporting how often users searched for certain keywords, Hal Varian, Google’s chief economist, says he wondered whether these data could foreshadow what traditional economic reports would show later. So he ran the numbers. The result was a 23-page paper he co-wrote in April 2009, demonstrating how data reported on the Google Trends service improved forecasts of auto and home sales and retail spending in the U.S. . . . Tanya Suhoy, a senior economist at the Bank of Israel, released a paper three months later that found newly available Google-mined data helped predict slowdowns and slumps in Israel. Economists from six central banks, including the Federal Reserve, began to ask similar questions: Did more people browsing for cars predict an increase in auto sales? Was a jump in research on unemployment benefits a hint that people were losing jobs? . . . . businessweek.com