economic-indicators

Vocabulary Word

Definition

'Economic indicators' are stats or info that show the state of a country's economy. These numbers and data can tell us if the economy is healthy, struggling, or somewhere in between.

Examples in Different Contexts

In macroeconomics, 'economic indicators' are statistics that provide information about the overall health of the economy, such as GDP growth rates, unemployment rates, and inflation. An economist might say, 'Analyzing economic indicators helps us predict economic trends and make informed policy decisions.'

Practice Scenarios

Policy

Scenario:

Despite the fall in inflation, the decrease in GDP and rise in unemployment are causing some concerns. We need effective measures.

Response:

The government will make decisions based on these economic indicators to help boost GDP and decrease unemployment.

Banking

Scenario:

The stability in our economy, reflected in various indicators, might lead to a review of our current lending rates.

Response:

Agreed. The current economic indicators give us a reason to reconsider our financial policies.