Economic indicators provide a snapshot of the economy's health. An economist might check the vital signs of the economy by looking at gross domestic product (GDP), consumer price index (CPI) or the unemployment rate The economic indicators help them see where the economy is in terms of the business cycle, which shows the rising and falling of economic conditions over time.
Economists categorize some economic indicators as Leading indicators anticipate the direction in which the economy is headed.
Coincident indicators provide information about the current status of the economy.
Lagging indicators change months after a downturn or upturn in the economy has begun and help economists predict the duration of economic downturns or upturns.
Some of the economic indicators are as follows.
Recent Indicators .
Average Weekly Hours of Manufacturing Production Workers .
This indicator shows the average number of hours worked weekly by employees in the manufacturing isector. The figures are not seasonally adjusted, and are therefore subject to seasonal variations. Figures from January 2001 to the present are based on thThis indicator shows the avera .
Building Permits for Housing .
Building Permits for Housing are the number of permits issued for new privately owned housing units, including multi-unit dwellings. Figures are unadjusted. .
Consumer Price Index .
The Consumer Price Index (CPI) represents changes in the prices of all goods and services purchased for consumption by urban households. User fees (such as water and sewer service) and sales and excise taxes paid by the consumer are also included. Income taxes and investment items (like stocks, bonds, and life insurance) are not included. .
Contracts For Future Construction .
Contracts For Future Construction are for planned residential, nonresidential and nonbuilding construction projects. New figures are reported monthly.