Introduction to Macroeconomic Indicators
- Each of the macroeconomic objectives has at least one metric that is used to measure progress towards that objective
- These metrics are called macroeconomic indicators
- Macroeconomic indicators provide a snapshot of the economic performance
- The data from the macroeconomic indicators helps policymakers, economists, investors and businesses make informed decisions
Diagram: Measures of Macroeconomic Indicators
Indicators used to measure and track macroeconomic objectives include the Claimant Count and the Consumer Price index
- Policymakers use the data from economic growth, inflation, unemployment, and the balance of payments to assist in formulating and evaluating progress towards their objectives
- The indicators provide a means of making historical and international comparisons