Economic Indicators: What Is It?
In a word, it’s a tip (of information), an insight, that provides a deeper look into the economy.
Speaking of the UK, it may be an inflation rate, Balance of Trade, GDP Growth Rate, Core Consumer Prices, CPI Transportation or a wealth of other indicators that reveal the statistics and trends.
What to Consider in the First Place?
Gross Domestic Product, or GDP for short, has it all. It reflects the overall value of goods and services provided in a country during a particular period. No wonder, that out of an array of economic indicators Gross Domestic Product remains the most important one, as it displays the health of the national economy.
Speaking of the UK, here GDP is calculated by the Office for National Statistics.