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Mr. Paul A Austin, Mr. Marco Marini, Alberto Sanchez, Chima Simpson-Bell, and James Tebrake

Ford Escape – Canada 3. Operating Indicator (weighted by reviews) for Selected City Centers 4. Business Re-opening Indicator for Selected City Centers 5. Review Activity Indicator 6. Change in Google Trends Compared to Change in Real Quarterly GDP 7. Transportation and Storage: Comparison between Official Data (GDP-H), Google Trends (TRE-H), and Reopening Indicator (REOP) for Selected Countries 8. Transportation and Storage: Nowcasts for 2020-Q2 and 2020-Q3 Tables 1. Fields of Information that can be Extracted for Each Place using Google Places API

Mr. Paul A Austin, Mr. Marco Marini, Alberto Sanchez, Chima Simpson-Bell, and James Tebrake
As the pandemic heigthened policymakers’ demand for more frequent and timely indicators to assess economic activities, traditional data collection and compilation methods to produce official indicators are falling short—triggering stronger interest in real time data to provide early signals of turning points in economic activity. In this paper, we examine how data extracted from the Google Places API and Google Trends can be used to develop high frequency indicators aligned to the statistical concepts, classifications, and definitions used in producing official measures. The approach is illustrated by use of Google data-derived indicators that predict well the GDP trajectories of selected countries during the early stage of COVID-19. To this end, we developed a methodological toolkit for national compilers interested in using Google data to enhance the timeliness and frequency of economic indicators.
Mr. Paul A Austin, Mr. Marco Marini, Alberto Sanchez, Chima Simpson-Bell, and James Tebrake

– even though the subsequent waves were more pronounced in terms of cases and severity of illness. The following series of charts in Figure 5 shows the review activity for restaurants in Toronto, London, Manila, Johannesburg, Nairobi, Seoul, and Sydney (the dotted lines in the figure are three-month moving averages). Figure 5. Review Activity Indicator Source: Google Places API – Data extracted from April 2020 to June 2021. Google Trends as an indicator of activity While there appears to be some conceptual and statistical relationship between