While economic forecasting is not an exact science, it remains an important decision-making tool for businesses and governments as they formulate financial policy and strategy.
Investment dictionary. Academic. 2012.
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economic forecasting — UK US noun [U] ► ECONOMICS the activity of making economic forecasts: »As with all economic forecasting, there is no magic formula that automatically calculates the impact of changes in oil prices. »an economic forecasting firm … Financial and business terms
Economic forecasting — is the process of making predictions about the economy as a whole or in part.Relevant models include * Economic base analysis * Shift share analysis * Input output model See also * Land use forecasting *Reference class forecasting *… … Wikipedia
economic forecasting — Prediction of future economic activity and developments. Economic forecasts, which range from a few weeks to many years, are widely used in business and government to help formulate policy and strategy. Macroeconomic forecasts predict the course… … Universalium
Father of Modern Economic Forecasting — Trygve Haavelmo … Eponyms, nicknames, and geographical games
Forecasting — is the process of estimation in unknown situations. Prediction is a similar, but more general term. Both can refer to estimation of time series, cross sectional or longitudinal data. Usage can differ between areas of application: for example in… … Wikipedia
forecasting — Making projections about future performance on the basis of historical and current conditions data. Bloomberg Financial Dictionary * * * forecast forecast 2 verb forecast PTandPP or … Financial and business terms
Economic collapse — An economic collapse is a devastating breakdown of a national, regional, or territorial economy. It is essentially a severe economic depression characterised by a sharp increase in bankruptcy and unemployment. A full or near full economic… … Wikipedia
economic — /ek euh nom ik, ee keuh /, adj. 1. pertaining to the production, distribution, and use of income, wealth, and commodities. 2. of or pertaining to the science of economics. 3. pertaining to an economy, or system of organization or operation, esp.… … Universalium
Economic data — are usually numerical time series, i.e., sets of data (covering periods of time) for part or all of a single economy or the international economy. When they are time series the data sets are usually monthly but can be quarterly and annual. The… … Wikipedia
Economic base analysis — was developed by Robert Murray Haig in his work on the Regional Plan of New York in 1928. Briefly, activities in an area divide into two categories – basic and non basic. Basic industries are those exporting from the region; non basic (or… … Wikipedia