2. Defined
economic indicators A collection of statistical
information about the economy. The most commonly
used country economic indicators include the gross
domestic product , output by sectors, private
consumption, retail sales
volume, employment, unemployment, average
earnings, investment, productivity, inflation, producer
input and output prices, current account, volume of trade
in goods and services, exports, imports, public debt, and
interest rates.
“Economic indicators" A Dictionary of Economics. John Black, Nigar Hashimzade, and Gareth
Myles. Oxford University Press, 2009. Oxford Reference Online. Oxford University
Press. Villanova University. 6 February 2012 <http://www.oxfordreference.com
4. Sources
Public Private
Bureau of Economic Conference Board
Analysis (Consumer Confidence)
(Income, International University of Michigan
Trade) (Consumer Sentiment)
U.S. Census Bureau Stock Indices
(Manufacturing, Retail (NYSE, NASDAQ)
Trade)
Institute for Supply
Bureau of Labor Statistics Management (PMI)
(Employment, Earnings, Pr
ices) National Association of
Realtors (existing home
Federal Reserve Board sales)
(Money, Finance, Exchang
e Rates
5.
6. In the news…
Appelbaum, B. (2012, January 27). The quiet driver of economic growth: Exports [web log post].
Retrieved from http://economix.blogs.nytimes.com/2012/01/27/the-quiet-driver-of-economic-
growth-exports/?ref=economy
7.
8. What’s the point?
A. “The only function of economic forecasting is to make
astrology look respectable.”
John Kenneth Galbraith
B. “God is in the details”
C. "There are three kinds of lies: lies, damned
lies, and statistics."
