The indicators economists use to determine the state of the economy include;
- Price
- Employment levels
- Gross domestic product
Definition:
An economic indicator simply refers to an economic data, usually of macroeconomic scale, which is used by economic analysts to interpret future or current investment possibilities.
Additionally, these indicators are useful in judging the overall wellness of an economy.
Notable economic indicators include;
- Gross domestic product: is a measure of the sum total value of goods and services that the country produces within its shores and consequently shows the country's economic condition.
- Price and Employment levels are other economic indicators to evaluate the health of an economy.
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