MACROECONOMICINDICATORSLinda HauckLibrarian to VSB & EconomicsSpring 2012
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
Leading, Lagging, Coincident
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
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
What’s the point?A. “The only function of economic forecasting is to make astrology look respectable.” John Kenneth GalbraithB. “God is in the details”C. "There are three kinds of lies: lies, damned lies, and statistics."