Business news provides valuable information that can be used to predict the macroeconomic performance of a nation. Are forecasts based on national or world news any more accurate than those based on real statistics? According to a recent study, world economic news can anticipate an economy’s purchasing trends more accurately than traditional data in the short term. In research it is proved that The projections derived from hard statistics in the popular FRED-MD dataset, which includes monthly data of more than 100 US macroeconomic indicators, are contrasted with this.
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