A combination of satellite-based night-time lights and Google search data can improve estimates of state-level economic growth, reducing forecasting errors by up to 62%, according to a study published in the Reserve Bank of India’s October Bulletin.
The study, Nowcasting State-Level Economic Activity in India with Night-Time Light and Google Trends, developed a quarterly framework to track economic activity in Gujarat, Maharashtra and Karnataka using indicators that are available more frequently than official state economic data.
