Indicators of Economic Performance

1. Employment a. Workforce = paid employment + people not in work

Measured by:

Claimant Count (though to underestimate)

Labour Force Survey (ILO Survey)

2. Inflationa. Consumer Price Index (CPI)b. Retail Price Index (RPI, not widely used)

3. Sustainable Growtha. Changes in real output/GDP/GNP

4. Current Account Balance in the Balance of Payments

X=M or Exports (X) = Imports (M)

M>X = Deficit

x>M = Surplus

Visible Trade (tangible goods)

Invisible Goods (intangible goods)

a. Servicesb. Transfers (private transfers)c. Investment Income (interest, profits, dividends)