BoE economists build news-based growth indicator


Economists at the Bank of England have developed an early indicator of economic growth by extracting information contained in newspaper articles.

Arthur Turrell, Nikoleta Anesti and Silvia Miranda-Agrippino use two separate algorithms to turn “news into numbers”, as they explain in a recent blog post. The first counts words based on a pre-defined dictionary of positive and negative terms, while the second uses machine learning to estimate which words are semantically similar to those in the

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