54 Bizarre Ways You Can Track The Economy
<p class="p1"><span class="s1"><img style="float:right;" src="http://static3.businessinsider.com/image/54723ab1eab8ea0b1d148de6-1200-924/green-tea-leaves-1.jpg" alt="green tea leaves" border="0">Professional economists spend lots of time mulling over government stats on the economy. Popular indicators include the consumer price index and the nonfarm payrolls report.</span>
<p class="p1"><span class="s1">However, these official reports are always revised, sometimes by amounts so large we wonder why we pay attention to them at all.
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<p class="p1"><span class="s1">Fortunately, we live in an era where massive amounts of information flows freely. And some savvy economists have flagged some seriously unorthodox indicators that reveal the truth about what's really going on in the economy.
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<p class="p1"><span class="s1">Many of us are familiar with some of these indicators like the <span class="s2">Big Mac Index</span> and the lipstick indicator.</span>
<p class="p1">However, there are even weirder indicators like Kenyan Coca-Cola revenues, alligator populations, cheap romance novel sales, and the intensity of military recruitment ads that are arguably sound in their economic revelations.
Business Insider has compiled a list of the 54 most unusual ones. Take a look.
Eric Platt, Matthew Boesler, and Steven Perlberg <em>contributed to an earlier version of this article.</em>
<h3>The romance novel Indicator</h3>
The Concept: Bodice-ripping romance novels fly off the shelves during bad times.
The Proof: In 2008, the mega romance novel publisher Harlequin reported that sales were up 32% in 2008. "The publisher credits the increase to its uplifting stories that offer a haven, and to the low prices of the books relative to other entertainment. Harlequin saw a similar sales increase during the recession of the early '90s."
<h3>Bike-fatality rates</h3>
The Concept: This one's pretty gloomy: During hard times, the number of bicycle fatalities increases. Perhaps this has something to do with the fact that as the economy tanks, people try to save money on gas and switch over to bikes.
The Proof: In the UK, the Department for Transport said fatalities jumped 12% year on year as austerity measures took effect in 2011. Cycling deaths also surged 58% during the Great Depression.
<h3>The MaMa index</h3>
The Concept: The MaMa Index is a unique economic indicator in the Thai market, which suggests that Thai instant noodles are such an integral part of the economy that they reflect what's going on.
The Proof: Preeyanuch Manomathaya conducted a study on the correlation between Thai instant noodles and the Thai economy. During the peak economics recession, when the Thai economy shrunk by 4%, there was a record drop in instant-noodle sales. And, in 2009, Thai President Foods PCL saw the first drop in sales of instant noodles for the first time in 38 years.
<h3>The cemetery plot index</h3>
The Concept: When times get tough, people start reselling their cemetery plots. (And cremations become more popular.)
The Proof: In 2009, WSJ reported that many customers were selling back or reselling their cemetery plots. "Things got really tight," according to one seller, and he added that he and his wife were thinking about cremation instead.
<b>See the rest of the story at Business Insider</b>
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