Data Visualization on Economic Confidence via Shiny

Posted on Nov 6, 2016
The skills the author demoed here can be learned through taking Data Science with Machine Learning bootcamp with NYC Data Science Academy.

Overview

It appears clearly that after economic crisis after 2007 global downturn takes heavy toll in almost every corner of the world. Publics around the world are decidedly unhappy about their nations’ economies. Most are displeased with current economic conditions and concerned about rising economic inequality; few are optimistic about the coming year. However, at the same time, most global publics say their personal finances are in better shape than their national economies, according to data from a new 39-nation survey. I made shiny app to demonstrate visualization of world economy confidence. It includes world map of 39 countries. Each of their economic satisfaction are highlighted with color.

 

Economy Categorization by Data

To categorize the 39 countries surveyed into three categories – advanced economies, emerging markets and developing economies – we started with the World Bank classification of countries by income.

Next, we used the absolute size of the economy as well as the relative wealth per capita to determine whether the emerging markets and developing economies were classified correctly.

Finally, we cross-referenced our coding of the countries against expert classifications, such as the International Monetary Fund.

 

Data Visualization on Economic Confidence via Shiny

This is the main board of my shiny app. On top there are info boxes indicate highest and lowest score as well as average score of satisfaction rate. Highlighted nations has interactive box when mouse move upon them shows rate.

 

Data Visualization on Economic Confidence via Shiny

This is bar chart compare each countries satisfaction rates. Both "Satisfied" and "Dissatisfied" number.

Data Visualization on Economic Confidence via Shiny

This is the dataset of 39 nations.

 

Data on National and Economic Conditions

 

Across the globe, few are happy with the direction of their country – less than half in 34 of the 39 countries surveyed say things are going well. Satisfaction is particularly low in advanced and developing economies, while publics in emerging markets tend to be somewhat more content.

 

rplot1

Among the advanced economies, only in Germany (57%) and Canada (55%) do more than half of those surveyed say their country is moving in the right direction. In most countries, a third or fewer are satisfied with their nation’s path.

Similarly, roughly four-in-ten or fewer in most of the developing economies surveyed say things are going well in their countries.

Overall, country satisfaction is somewhat higher in the emerging markets – at least three-in-ten in most countries say their nation is on the right track. Nonetheless, even among this group, few publics give positive reviews of how things are going in their country.

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