Economic indicators - provide information on how well or badly the economy is peforming in terms of achieving desired targets or goals. such as:
- economic growth
- higher living standards
- full employment
- control of inflation
These and other targets such as satisfactory balance of payments, form the policy objectvies that governments wish to achieve.
Policy instraments such as:
- Monetary policy
- Fiscal policy
Help assess the macroeconomic performance and whether they are achieving their goals
Economic indicators are also used to compare the UK economy against other economies
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