Economic indicators are the statistics that show how the economy is doing, including gross domestic product, unemployment, inflation, personal income, and trade figures. Federal statistical agencies produce them, including the Bureau of Economic Analysis, the Bureau of Labor Statistics, and the Census Bureau. Policymakers, businesses, and voters use them to judge the economy and make decisions.
People usually bring questions about how each measure is calculated, why figures get revised, and why the numbers can differ from how people feel about the economy. They also ask about inflation gauges, how unemployment is measured, what business cycles and stagflation mean, and how the economy shapes politics.
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Stagflation ranks among the most feared economic conditions—a rare but devastating combination of rising prices, stagnant growth, and high unemployment that conventional economics once…
