Top Ramen
This comes from Dan Abendschein in the form of an IM. Apparently I'm not the first person to use the Top Ramen index as an economic indicator, I've just been using Top Ramen as a forecast longer and I actually think the Mama Noodles Index referred to below is a myth. I can find no direct links to it on the web and only five or six blog entries that talk about it ...none has a link.
Anyway, here's what Dan (and wikipedia) have to say.
You know, I was pretty sure I have read about the top ramen economic indicator in another article, so I googled it... apparently it has been referred to enough to get into the Top Ramen wikipedia entry:
"Instant noodles are not only popular with college students, they can also be an economic indicator. In 2005, the Mama Noodles Index was launched to reflect the sales of Mama noodles, the biggest manufacturer in Thailand. [1] The index was steady since the recovery from the East Asian financial crisis, but sales jumped by around 15% in first seven months in 2005 on year-to-year basis, which was regarded as a sign of recession. People could not afford more expensive foods, hence the increase in the purchase of ramen, as ramen is seen as an inferior good."
thought you might be interested...