economic indicator
/ˌiːkəˈnɒmɪk ˈɪndɪˌkeɪtər/ · e·co·no·mic in·di·ca·tor
noun
- A statistic or data point that reflects the overall health, direction, or performance of an economy. The unemployment rate is a key economic indicator that policymakers watch closely.
- A measure used to forecast future economic activity, often classified as leading, coincident, or lagging. The Purchasing Managers' Index serves as a leading economic indicator for manufacturing growth.
Did you know? The term "economic indicator" gained prominence during the Great Depression, when governments began publishing regular data like the Industrial Production Index to track economic recovery.