Amazon Economists Tout New Model to Call Recessions in Real Time.

Amazon economists Francesco Furno and Domenico Giannone have developed a new model to identify recessions in real-time. Their measure, based on real-economy activity and financial conditions, can provide a reading for a given month on the first business day of the next one. The researchers have created separate versions for the US and Europe, although their paper does not indicate whether either economy is currently in a recession. Their method is designed to be more timely than official indicators, which often declare a recession months after it has begun. [Extracted from the article]