Economic indicators are statistics used to measure various aspects of an economy's performance. They provide valuable information about trends, changes, and overall health of the economy.
Economic indicators are like a doctor's check-up for the economy. Just as a doctor uses different tests to assess your health, economic indicators provide data points that help economists diagnose the state of an economy.
Gross Domestic Product (GDP): The total value of all goods and services produced within a country's borders in a specific time period.
Consumer Price Index (CPI): A measure of average price changes in a basket of goods and services commonly purchased by households, used to track inflation.
Leading Indicators: Economic indicators that tend to change before the overall economy starts to follow a particular pattern or trend.
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