Bank utilises Google in analysis
Data on the volume of online searches is a valuable indicator of economic activity and could play an important role in central banks' economic analysis, a paper published in the Bank of England's Quarterly Bulletin has said.
Nick McLaren and Rachana Shanbhogue, the paper's authors, say that data on searches for words such as 'flatscreen televisions' and 'fridges' could provide economists with a more accurate picture for the demand for durable goods and contain valuable signals about the state of
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