Diversity of Economic Indicators
Economists—as well as politicians, traders, and the media—use indicators to assess and describe the economy. They’re like measurements your doctor might take to evaluate your health: heart rate, blood pressure, reflexes, etc.. Economic indicators range from straightforward, official measurements of intuitively “economic” statistics (such as the BLS’s Consumer Price Index) to unofficial, indirect methods of gauging economic activity. In our healthcare analogy, indirect indicators might be like your doctor trying to determine your overall health by investigating how well-used your pillow is (to guess the quality of your sleep). Think that sounds clever? Check out these economic indicators: + using “Craigslist Continue reading Diversity of Economic Indicators