Some of the most unusual economic indicators you've probably never heard of- Part 2!
A thread👇 (1/11)
A thread👇 (1/11)
1.) The Bike Fatality Index - Evidence from the UK suggests that bike fatalities increase during recessions.
During periods of financial uncertainty, commuters avoid trains & cars in favor of bicycles.
More cyclists out on the roads raise the probability of mishaps. (2/11)
During periods of financial uncertainty, commuters avoid trains & cars in favor of bicycles.
More cyclists out on the roads raise the probability of mishaps. (2/11)
2.) Romance Novels Indicator - A bad economy can be heartbreaking. And what can be a good escape from heartbreak? A larger-than-life, cheesy romance novel! (3/11)
An instance of this was seen during the 2008 GFC when Harlequin, a giant romance-novel publisher, reported a whopping 32% sales increase - a figure that was never seen before. (4/11)
Experts suggest this could also be because romance novels have cheaper alternatives and are less expensive in comparison to other forms of entertainment. (5/11)
3.) The Divorce Rates Indicator - A divorce is an expensive affair - there’s litigation & hefty alimony involved. So a recession is probably not the best time to divorce a partner, money-wise. Which is why you'll notice a dip in the divorce rates during economic downturn. (6/11)
Quite strangely, this indicator got twisted during the pandemic. The pandemic took a toll on marital lives (among other things), with divorce rates spiking to record highs. You know what they say, ‘Familiarity breeds contempt.’ (7/11)
4.) The Mosquito Bite Indicator - Here’s the logic for this one - when the economy is crippling, people abandon homes only to make them breeding grounds for mosquitoes. (8/11)
Consider the US economy after the subprime mortgage crisis. People were forced into foreclosures leaving backyard pools abandoned.
The result? More breeding mosquitoes and more mosquito bites🥲. (9/11)
The result? More breeding mosquitoes and more mosquito bites🥲. (9/11)
5.) High Heels Indicator - It is now an established fact that when the economy is in low spirits, consumers look to escape reality & turn to flamboyant fashion products. High heels are one such product, and they have been found to inch higher during economic downturns. (10/111)
In fact, reports suggest that during and after the 2008 GFC, the median height of women’s heels peaked at 7 inches. This median reduced by 2 inches in 2011.
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