Every day, public and private data gathering agencies publish economic reports that are widely reported on by the business media.
However, many economists have come to favor the indicators that are less employed — turning to things like garbage, bike fatalities, and hemlines to develop their point of view.
This morning, we learned that makeup sales were way up, which scientists believe is a bad sign for the economy.
What are some of the other weird indicators?
Buttered Popcorn Index
The Concept: To escape the doldrums of reality, consumers flock to cinemas to see Jason Bourne and Harry Potter, regardless of the movie's quality.
The Proof: The box office posted one of its biggest years during the 2009 recession, before plateauing as markets eased. If there's a double-dip, expect popcorn sales to be up again.
Unclaimed Corpse Indicator
The Concept: Because of high funeral costs, family members never claim the bodies of the deceased so the state will pay for costs.
The Proof: In 2009, at the height of the financial crisis when non-farm payrolls were falling by more than half a million a month, Detroit logged a massive increase in the number of unclaimed bodies at its morgue. State payouts for burials nearly doubled over a two month period compared to just a year earlier.
Drudge Headline Correlations
The Concept: The greater the Drudge Report focuses on business stories, the more likely the stock market is to have hit a bottom.
The Proof: Bespoke Investment Group recently tracked the number of financial headlines on the Drudge Report front page and compared them to the S&P 500. Turns out bottoms in the S&P 500 correlated to the number of business headlines on Drudge.
See the rest of the story at Business Insider
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