What are Economic Indicators?
From time to time, many of us engage in the task of collecting data about the current condition of the economy as well as making projections about how the economy will look over a period of time. In order to properly analyze current conditions and figure out where we are going, it is necessary for us to consider a number of factors that impact how we buy and sell goods and services. Those factors or predictors are what we commonly refer to as business indicators or economic indicators. In order to get a more accurate picture of the economy, it is important to consider a variety of economic indicators that touch on all sorts of segments of culture and society. There is the need to approach such indicators as the strength of various industries on a national and international basis, the gross national product (GDP) of the nation, the current landscape of the housing industry, and the current impact of inflation on goods and services delivery. When it comes to housing, there are a number o
Economic indicators are snippets of financial and economic data published regularly by governmental agencies and the private sector. These statistics help market observers monitor the economy’s pulse – so it’s no surprise that they’re religiously followed by almost everyone in the financial markets. With so many people poised to react to the same information, economic indicators have tremendous potential to generate volume and to move prices. It might seem like you need an advanced economics degree to parse all this data accurately – but in fact traders need only keep a few simple guidelines in mind to making trading decisions based on this data.
