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Gross domestic product is the best way to measure economic growth. It takes into account the country's entire economic output. It includes all goods and services that businesses in the country produce for sale. It doesn't matter whether they are sold domestically or overseas.How are economic indicators used in predicting the economy?
Economic indicators are statistics or data used to assess the current or past health of an economy and make financial forecasts. The indicators are typically a good reflection of what is happening in the economy, so when monitored, they can reveal its general strength.What are the indicators of economic development?
Indicators for Economic Development. As a country develops, the nature of its internal structure, finances and population changes. While several gauges are available to measure these changes, the most common indicators of economic development are Gross Domestic Product per capita, the poverty level, life expectancy,...