From the impending release:
On April 30th at 9:45AM EST, we will be releasing a new indicator based on sentiment from news stories. Here are the details:
·
The Dow
Jones Economic Sentiment Indicator (ESI) is a monthly measure of the relative
tone of references to the U. S. economy in 15 major daily newspapers using a proprietary text mining and
analysis algorithm through Dow Jones Insight, a media tracking and analysis
tool.
· The ESI is expressed on a numerical scale from 0 to 100, with 0 representing no positive economic references and 100 representing no negative economic references.
So what is it -- a short hand metric to look at economic sentiment using qualitative data. An abundance of words tells you many things either good or bad. Look for it...
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