Bloomberg launches alt data-driven consumer spend index
The combination of alternative data and traditional macroeconomic data will provide insights into a key component of the US economy, as demonstrated by the data’s use by Chicago’s Federal Reserve Bank.
Bloomberg has unveiled a new index based on consumer transaction data from its Second Measure alternative data business that provides insight into consumer spending patterns, allowing investors to identify macro trends and track consumer health and spending flows between industries and sectors.
The index, presented in the Bloomberg Terminal as part of the vendor’s World Economic Analyzer macroeconomic data solution, shows a headline index value, with each weekly data point accompanied by graphs
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