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In a few months, Asia’s oldest stock exchange will move beyond being just a trading platform to also provide data on unemployment and consumer sentiment, which play a key role in monetary policy decisions.
“Consumer sentiment and the unemployment rate are two very important numbers — they help you make investment decisions. But as of now most data come out with less frequency or with a lag,” said Ashishkumar Chauhan, BSE’s MD and CEO. “The BSE will soon provide data daily and that’s going to be game-changing from the macroeconomic point of view,” Chauhan told BusinessLine .
“Today, modern technology allows you to collect information faster, but nowhere in the world will you get the unemployment rate on a daily basis,” he said.
He cited US employment numbers, which are released every month. “They help you make investment decisions, because on that basis the monetary policy is decided,” the BSE chief said.
The BSE has tied up with the Centre for Monitoring Indian Economy, which will undertake actual collection of data from 1,58,000 households, covering 3,000 locations. Survey Research Center, University of Michigan, is a partner in the estimation of consumer sentiment indices. The sample size will be the same for both indices.
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