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Definition of 'Economic Forecasting'
The process of attempting to predict the future condition of the economy. This involves the use of statistical models utilizing variables sometimes called indicators. Some of the most well-known economic indicators include inflation and interest rates, GDP growth/decline, retail sales and unemployment rates.
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Investopedia explains 'Economic Forecasting'
While economic forecasting is not an exact science, it remains an important decision-making tool for businesses and governments as they formulate financial policy and strategy.
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The economy has a large impact on the market. Learn how to interpret the most important reports.
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We look at this closely watched economic indicator to see what it means and how it's calculated.
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From unemployment and inflation to government policy, learn what macroeconomics measures and how it affects everyone.
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Learn about the tools the Fed uses to influence interest rates and general economic conditions.
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Does the amount of goods and services produced set the pace for economic growth? Here are the arguments.
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Economics is a vital part of every day life. Discover the major players who shaped its development.
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Tuning in to pundits is fine, but investors should rely on their own research when making important decisions.
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