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Economics: Understand Indicators

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Understand Indicators


Understand Indicators

 

What are Indicators? 
They are statistics about economic development and/or human welfare in a region.

 

Common Economic Indicators:
GDP, output by sectors, private consumption, retail sales volume, employment, unemployment, average earnings, investment, productivity, inflation, producer input and output prices, current account, volume of trade in goods and services, exports, imports, public debt, and interest rates.

 

Common Social Indicators
Adult literacy, education expenditure, fertility rate, household income and time use, infant mortality, life expectancy, incidence of antisocial behaviour and criminal offences, income inequality, poverty rate, proportions of urban and rural population, social security expenditure, unemployment, voter turnout, and water and air quality.

 

Time Series
Data for the same variable at different times, usually at a regular frequency, for example annual, quarterly, weekly, daily.  Indicators are often presented as time series data. 

 

Source:  A Dictionary of Economics

 

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