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This box presents an indicator for actual economic activity within the United States based mostly on the textual analysis of newspaper articles. The indicator is constructed using data from the Factiva databasehttps://businesstips.xyz which collects all articles printed by main newspapers for a big set of countries. Newspaper articles revealed within the United States are extracted from the database and used to construct a textual content-based mostly activity indicator. For every day since January 1970https://businesstips.xyz the indicator measures the number of articles that discuss a slowdown in the US financial system relative to the entire variety of articles revealed in the United States. Intuitivelyhttps://businesstips.xyz the constructed index ought to co-move with the business cycle as newspapers devote extra space to …