Answer to Question #109518 in Economics for Tshiamo

Question

How to tacle economic indicators

Answer 1

An economic indicator is simply any economic statistic, such as the unemployment rate, GDP, or the inflation rate, which indicate how well the economy is doing and how well the economy is going to do in the future.

To understand economic indicators, we must understand the ways in which economic indicators differ. There are three major attributes each economic indicator has:

1) Relation to the Business Cycle / Economy,

2) Frequency of the Data,

3) Timing.

Source:

https://www.thoughtco.com/beginners-guide-to-economic-indicators-1145901