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The Economic Indicators Essay Sample

This is a sample essay on the topic of economic indicators. in this essay, we will discuss what economic indicators are, types of economic indicators, which are key economic indicators, lagging economic indicators, and so on.

Nevertheless. we will start the essay by having a look at what are economic indicators.

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What are Economic Indicators?

The term economic indicator means a piece of economic data that is used to judge the health of an economy and predicate the market to look for a favorable place to invest.

Nevertheless, an economic indicator can be anything depending upon the analyst.

However, the government and non-profit organizations released data is commonly used as it is reliable.

Types of Economic Indicators

The economic indicators are released around a fixed time of the year or month. This lets the investors prepare and plan accordingly.

However, there are three types of economic

  • Leading indicators
  • Coincident indicators
  • Lagging indicators

1. Leading Indicators

This type of indicator is used to anticipate an economy’s future movements.  It is represented with the yield curves, consumer durables, and share prices, and so on.

As the name suggests data of this type of economic indicators change before the economy does.

However, these indicators may indicate incorrect statics, as they are not always correct.

2. Coincident Indicators

This indicator is aimed at a specific area of the economy. It goes hand in hand with specific economic activity. Moreover, data is mainly used by economists and policymakers as this data is in real-time.

GDP, employment levels, retail sales fall under this category.

3. Lagging Indicators

This indicator shows information after the specific economic activity as it comes after the event unlike coincident which are real-time.

Usually, these indicators fall into large economic shifts.

Adding to that, Gross national product, CPI, unemployment rates, interest rates are part of this type of category.

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List of Key Economic Indicators

As we read earlier, anything can be used as economic indicators depending on the situation.

However, analysts prefer some indicators over others as they are persistent and are more stable with results.

We are going to look at the top 5 key economic indicators of the financial market;

  • Gross Domestic Product
  • Consumer Price Index
  • Employment Indicators
  • Central Bank Minutes
  • Purchasing Manager’s Index

1. Gross Domestic Product

Considering its impact, this is one of the most-watched economic indicators in the financial markets. GDP is the market value of all final goods and services produced within a nation during a specific time period.

Also, the expanding the GDP of a country indicates growth in the economy, whereas contracting GDP indicates a decrease in a country’s economic growth.

After all, Nominal and real formats are used to represent its value. While real GDP adjusts to changes in monetary value.

2. Employment Indicators

Labor force, payroll, unemployment are employment indicators. This data helps in estimating the employment rate and the rise and fall in income of employees.

Furthermore, analysts watch these employment indicators carefully and even more so in developed countries as they generate the majority of their revenue from the spending on domestic consumers.

3. Consumer Price Index

CPI or consumer price index calculates the change in the price of consumer products and services being used by households.

Furthermore, the analysts watch CPI figures carefully to indicate possible inflation. Rising inflation causes higher interest rates and reduced lending; on the other hand, deflation causes lower interest rates and greater lending.

4. Central Bank Minutes

Central bank minutes are formal releases that contain valuable economic commentary that can signal future policy action.

Adding to that, Monetary policy is created by the central bank which in turn significantly affects a country’s economy.

Also, the analysts tend to pay close attention to central banks’ announcements and moves.

Similar notes are released by many other central banks, including the Bank of Japan, the European Central Bank (ECB), and others years or half-yearly.

5. Purchasing Manager’s Index

The Purchasing Manager’s Index shows the number of goods and services acquired or bought by purchasing managers. The polling of the index takes place each month.

Plus, the analyst carefully keeps track of this economic indicator as the index reflects raw materials bought by the companies and market demand.

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