Last month we introduced the Bespoke Beige Book Sentiment Index, a quantitative assessment of the qualitative language used in the Fed’s Beige Book, updated twice per quarter. Earlier this week we updated that index for Bespoke Institutional subscribers. We’ve charted the index below. As shown, it’s accelerated quite dramatically in recent months and its current level is consistent with sustained growth in the neighborhood of 3-4%.
Our new Beige Book Sentiment Index will be released in the moments after the Beige Book release twice per quarter (or eight times per year). Access to this new economic indicator and its sub-indices is only available at the Bespoke Institutional subscription level, which you can start a free trial to here. If you have any questions about the Bespoke Beige Book Sentiment Index, please submit a contact form at our About page.