ECO 372 Week 2 Team Assignment, Impact of Economic Indicators

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ECO 372 Week 2 Team Assignment, Impact of Economic Indicators

Economic indicators are statistics that help specify the course of the economy. Though there are several indicators, there are three comprehensive groupings of economic indicators: leading, coincident and lagging indicators. This paper specifically covers Gross Domestic Product (“GDP”), a coincident indicator and unemployment rates, a lagging indicator. Note that economic indicators are only beneficial if valued correctly. Economic indicators are helpful in providing insight on economic trends, patterns, and data sets…………eco 372 week 2