Economic Indicators

To make sound financial decisions, you need to know where we are in the business cycle, how well the economy is doing, and where the economy might be headed. You can do this by paying attention to some economic statistics regularly reported in the news and TV business shows.

Your knowledge will guide your long-term financial strategy. An economic indicator is any economic statistic, such as the unemployment rate, GDP, or inflation rate, that suggests how well the economy is doing and how well the economy might be doing in the future.

Classification of Economic Indicators

Economic indicators could be categorized based on time and Correlation. Let’s understand them.