Researchers found a new way to measure consumer confidence. They used celebrity Twitter posts. Experts studied tweets from famous people. They looked at posts from top celebrities over five years. These posts showed how people felt about the economy. The study happened at a major university. The team tracked millions of tweets. They focused on celebrities with big followings. These stars often talk about products and spending. Their followers react strongly to these posts. The researchers saw patterns in these reactions. Sentiment analysis tools helped. These tools measure positive and negative feelings. The team compared tweet sentiment to official confidence data. The patterns matched closely. Celebrity tweets predicted consumer mood shifts. The index worked almost as well as traditional surveys. Traditional surveys ask people direct questions. They are expensive and slow. This new method uses existing social media data. It provides faster results. The university plans to release the index monthly. Investors and businesses watch confidence closely. Consumer spending drives the economy. A drop in confidence often means less spending. Businesses need this information quickly. The social media index offers speed. The method has limits. It only tracks people active online. It focuses on reactions to celebrities. Some experts question its accuracy long-term. The research team admits this. They believe it adds valuable insight. The index captured the recent dip in confidence. It happened before official surveys reported it. This shows its potential usefulness. Businesses might use this data alongside other sources. The university secured funding to continue the project. They aim to refine the model further.
(Celebrity Twitter Was Used For Consumer Confidence Index)
