The economy can be volatile, but it is still very predictable. Economic indices have been tracking the ups and downs of different sectors for generations. The Federal government has been tracking housing starts since 1959 and they have long been an indicator of where the overall economy is headed. For the last 15 years data has been collected about legal intakes, which can add another set of interpretive data to existing economic indicators, giving people a better overall understanding of what is going on in the economy.
So why do all these economic predictors matter, anyway? If you know the economy is headed for a downturn, would you hire more people for your business? If you know the economy is headed for an upswing would you invest more in the stock market? Knowing where the economy is headed can help you to make better, more informed decisions about your business and about your personal investments. Learn more about economic indices from this infographic!