Economic Indicators are the values ??or characteristics that show the state of the economy. Their dynamics given by the statistical calculations, on usually weekly, monthly or quarterly values, which helps to detect economic trends and to predict its future. Some of them repeated at regularly basis form at certain times of the year, such as a sharp increase in retail sales before New Year. Other are more important for the economic life events including strikes and unusual weather conditions, the beginning and end to war, the general economic downturn, economic pick-up or speculative boom (Ingram, Qingyuan, Rao, 2010). Due to the fact that different factors are from several weeks to several years, it is important to have information, regularly updated through a fairly short period of time (Lichtenstein, 2009). Following is a brief description of the various economic indicators:
Overall Economic Performance
Among the economic indicators are paramount status indicators and results of operation of the economy as a whole, often called aggregates. Probably the most widely used measure of this kind is the gross domestic product (GDP) (Fishman, 2004). It represents the value of all goods and services produced within the country farms, factories, mines, power plants, railroads, retailers, government agencies, banks and other production units. Another important indicator of the aggregate economy is the number of employees estimated only monthly basis. Since it is closely linked third indicator - the number of unemployed (Ingram, Qingyuan, Rao, 2010).
Seasonal adjustment
In the analysis of these and other indicators are almost always desirable to isolate the regular seasonal values ??of the other vibrations. This operation performed by calculating the values ??of the annual seasonal fluctuations based on data from previous years and the subsequent amendments to the current value or subtract from them (Lichtenstein, 2009). Many indicators published are in seasonal adjustments, while others - without such an amendment. One advantage of the amendments is that it allows you to compare the current values, not only with the values ??of the corresponding month last year, but with the values ??of the previous or any other month. Unadjusted for seasonal variations in data are usually compared with last year's data for that month. However, in cases where there is a need to quickly and accurately identify a new trend in the economy, are particularly important for comparing data shorter than a year intervals. Therefore, you want to use data adjusted for seasonal variations (Anderson, 1994).
Employment
It is important to divide industries into those in which the employment rate usually remains fairly stable, such as agriculture (except for seasonal fluctuations), the public sector, retail or financial sector and those in which employment is experiencing significant variations, such as manufacturing, construction, mining or trucks (Ingram, Qingyuan, Rao, 2010). In addition, we must distinguish relatively stable in terms of employment and occupation specialty (such as a "white collar") and less stable (especially those related to unskilled labor). If the economic downturn increases unemployment among workers of a stable profession or business, there is reason to believe that the situation becomes dangerous (Biddle, ...