Economists are known to use market indicators, extensive financial forecasts, and the previous work of other economists to support their judgement of an economy’s prospects.
This economist will briefly assess the economy based on the popular Google (NASDAQ: GOOG) Trends website. For those not familiar, Google trends tracks the top searched items on Google, in addition to the world’s interest in various topics.
Arguably, the most searched items by American users on a Saturday would be a great snapshot into how people are spending their weekends. Certainly, this tool is quite limited in judging an economy. It does, however, provide valuable insight into consumer sentiment, which is a pillar of any economy.
To be sure, the American economy has taken a hard hit in the past few years. In addition to the unacceptably high poverty rate, unemployment has soared, wealth has shrunken and confidence has withered.
I am not the only one that reviews google trends in the morning. This search caught my eye as well maybe it is due to father’s day weekend but I feel that it is a sign as well that economic times are getting better.
Let’s take a look at the top ranked on google that caught my eye this morning:
1. Golf Courses. It can get really expensive to go golfing and this maybe a trend today due to the Father’s Day Weekend. Families giving their dad’s a day on the green. So imagine for this two day weekends all the golf courses, caddies, restaurants and clubs will have a great day and lots of tips hopefully. I would be hard to speculatae the economic boost that this weekend will effect but I believe if your in the industry you will get good traffic today.
2. Coffee Shops. When was the last time you had a cup of coffee? Have you seen prices in your cup go up by a few cents? This is an indicator of the prices in the homes in your neighborhood. I know we live in Seattle the capitol of coffee drinkers but if you take notice on the small coffee shops are raising the price of your drink you can see the trend their as well. When people cut back it is mostly on the $4 cup of coffee that adds up if you have this type of habit every day.
14. Car Dealerships. I have many friends that own and work at car dealerships and they are telling me that sales are increasing. High end luxury cars are also seeing an increase as well. Most people don’t have time to shop during the week so the spike on a Saturday morning is a great indicator that people are shopping. Very good news to everyone in that industry.
17. Travel Agency. Great news for you travel agents. The warmer months people are getting the travel bug. Schools just out and time to have some fun with your kids. Traveling find a hotel and things to do will definitely give the economy a boost. Some cities live on tourism, like my favorite place Hawaii which I am sure will see an increase in visitors. Family vacation hot spots like california’s disney land and other theme parks.
We are definitely not out of the ball park yet but I would consider these trends a sign that good things are around the corner.
what do you think? leave a comment below.
Posted via Seattle Real Estate-Seattle Homes For Sale
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