Searching for Confidence

From a blog on Economist.com:

A few weeks ago The Economist invited readers who enjoy our Big Mac index to invent other quirky economic indicators. We were particularly interested in ideas that might help to show where the economy is heading.

A contributor offered a quirky index that ties consumer confidence to Google searches for “gold price”.  More detail:

This does not follow the gold price itself. For example, during 2008 when the world’s financial system was melting down, the gold price fell yet the number of searches soared.

And the chart, with the consumer confidence data lagging in availability behind the searches for gold price.  I have a feeling I know what it will look like when it comes in.

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