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The Aruoba-Diebold-Scotti (ADS) business conditions index is a market indicator that uses several economic indicators to track business conditions. The indicator is updated each time one of these economic indicators is released.
The indictors used to construct the ADS Index are:
Personal income less transfer payments
Industrial Production
Manufacturing and trade sales
Weekly Initial Jobless Claims (You can download this data using Initial Jobless Claims - Historical data)
Monthly Payroll Employment
Quarterly Real GDP
There is one indicator released weekly, four released monthly and one released quarterly. The ADS Index uses the annualized growth rates of these economic indicators, except for the Weekly Initial Jobless Claims.
The reference ADS value is zero. Values higher than zero indicate that business conditions are better than average. Values lower than zero indicate that business conditions are worse than average.
The higher the ADS value is the better the conditions are, and of course, the lower the ADS value is the worse the conditions are. Comparing the ADS index value with a previous value let you determine whether business conditions are better or worse than the condition in that previous period.
The downloaded file size is higher than 30Mb and it is available only in EXCEL format. A script is used to extract the most recent time-series from the excel spreadsheet and to associate the data with the following ticker symbol: ^ADS_Index
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