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How do economists make their forecasts about the U.S. economy? What are the economic indicators that help forecast economic activity and business cycles? In this lesson you will be able to retrieve up-to-date, key economic statistics which will provide valuable hints about the state of the future economy.
How do economists make their forecasts about the U.S. economy? What are the economic indicators that help forecast economic activity and business cycles?
In this lesson you will be able to retrieve up-to-date, key economic statistics which will provide valuable hints about the state of the future economy. Economic Indicators are divided into three categories:
Leading Indicators – anticipate a business cycle by tending to turn down before the down cycle begins and to turn up before the expansionary cycle begins. These Primary Leading Economic Indicators are as follows:
Coincident Indicators – run in sync with the business cycle. These Coincident Indicators are as follows:
Lagging Indicators – follow changes in the business cycle. These Primary Lagging Indicators are as follows:
The major source of the above indices is https://www.conference-board.org/data/bci.cfm
Information is a scarce resource. You will become better informed about current economic information through this lesson.
Try this scavenger hunt activity using these four data sources:
Answer the following questions:
Write an essay describing the current state of the economy and predict the state of the economy one year from now. Be sure to include statistics from the web sites above.
For quick access to current economic data, be sure to visit the https://www.econedlink.org/section of this web site.
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Grades 9-12
Grades 9-12
Grades Higher Education, 6-8, 9-12