The ASR/WSJ Composite Newsflow Indicator
We monitor the positive and negative news stories around six key macro variables using the Dow Jones news database, Factiva
These variables include: (1) the economy; (2) Corporate earnings; (3) corporate revenues; (4) the labour market; (5) inflation; (6) monetary policy.
They combine to form our flagship Composite Newsflow Indicator
Long-standing, robust relationships with alternative series like the PMIs
Weekly and Monthly series for all datasets
37 years of potential history
Coverage: Global; US; China; Eurozone; Japan; UK; Australia and Emerging Markets
Rather than rely on two or three macro releases the Newsflow indicators produce a signal by aggregating a much broader range of inputs from the many media outlets contained within Factiva (over 10k different outlets)
Stories tend to be skewed towards the things editors find interesting – which often means that they capture an element of macro surprise
The different indices have strong, long-standing relationships with other key series like the purchasing manager surveys, analyst revisions and the 12-month change in equity/bond relative returns (see chart above).
On this page:
ASR/WSJ Newsflow Component Indices
Introducing the high frequency ASR/WSJ Global Composite Newsflow Indicator
Updated on Tuesdays
Using the same methodology as our tried and tested monthly ASR/WSJ Global Newsflow indices, this new weekly series brings the Newsflow into the realm of high frequency data
A high frequency alternative to correlated datasets like the ubiquitous purchasing manager surveys
The NewsFlow indicators are created by using proprietary search strings to interrogate the Dow Jones Factiva database
‘Positive’ and ‘negative’ macroeconomic news stories are collected in separate searches and then the difference is calculated - the ‘net’ news flow.
The indices are then seasonally adjusted.
The searches are in English, so the series are dominated by stories from and about the Anglosphere, but they have a proven track record of capturing global trends well.
For a more detailed methodology click HERE.
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