Alternative data used at most central banks
Non-traditional data such as Google searches widely used to support research and forecasting
The majority of central banks that responded to the Economics Benchmarks 2022 said they use alternative data sources in aspects of their work.
Slightly over four-fifths (81%) of the 32 respondents said they use Google search data to support their research. Scanner data emerged as the least-used alternative source, at just 6% of institutions.
The banks added they use the alternative sources of data in various aspects of official roles including forecasting analysis, scenario analysis and
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