In the Google Ads Performance Max search category, Google is now displaying "private search term." Private queries are terms that have been searched for by fewer than 50 unique users over the past 90 days, Google explained.
This was spotted by Arpan Banerjee who posted this screenshot on X:
Yes, Google Ads does hide some queries from the search terms report.
Now, Google is being clearer about some of those queries...
Forum discussion at X.
