Inspired by the few interesting and totally different Economic Indicators for Modern Times that I found on the web, I propose one more: Public Transport Standees Indicator in two versions - one applicable for U.S. and another applicable for India.
More formally, I propose the Public Transport Standees Indicator as:
U.S. Version:
Public Transport Trains/Buses are more crowded and have more number of Standees when the economy is strong and going good.
If the economy is very weak and people are out of work, they don't commute and so the Buses/Trains are emptier and have less or no standees.
This is especially applicable for U.S. where the difference between the cost of public transport and driving personal vehicle is not so significant. Also note that this applies more to big cities like New York, Chicago, etc. where the public transport facilities are very good.
India Version:
Public Transport Trains/Buses are more crowded and have more number of Standees when the economy is weak and going poor as people try to save every possible penny.
If the economy is very strong and people have good paying jobs, they use personal transport and so public transport has less or no standees.
This is especially applicable for India where the difference between the cost of public transport and driving personal vehicle is significant and the people are very price conscious. Also note that this applies more to big cities like New Delhi, Mumbai, Kolkata etc. where the public transport facilities are very good.
So, India version is the exact opposite of the US version!
1 comment:
An economic indicator is information amassed and published by a government or private entity recording the activity in a particular economic sector, either in a specific industry or in an entire economy.With so many people poised to react to the same information, economic indicators have tremendous potential to generate volume and to move prices.
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