Economic indicators are usually statistics. These statistics highlight trends in contemporary macroeconomic issues such as economic growth, employment, international trade, inflation, and economic issues of special interest (for example, equity).
Useful sites for economic statistics related to contemporary economic issues include:
Key concept indicators
Analysis of economic indicators requires knowledge of statistical data relating to two contemporary economic issues.
- Processes and presents statistical data to show trends.
- Provides detailed explanations of relationships in statistical data for each of two contemporary economic issues, for example, the relationship between investment and real GDP (if analysing economic growth or exchange rate) and balance on goods (if using economic concepts or models to analyse international trade).
- Provides detailed explanations of interrelationships between statistical data for two contemporary economic issues, for example, the relationship between unemployment and real GDP (if analysing economic growth and unemployment) or the exchange rate and the Consumer Price Index (CPI) (if using economic concepts or models to analyse international trade and inflation).
- Uses extrapolated data from two contemporary economic issues, for example, extrapolated price statistics (CPI, exchange rate, labour cost index) and extrapolated economic growth statistics (real GDP, labour productivity index, gross investment rate), to justify (with detailed explanations using economic models or concepts) a forecast about a contemporary economic issue, for example: What will the Reserve Bank governor do with the official cash rate?
Last updated May 9, 2013