Macroeconomic Forecasts

Macroeconomic Forecasts – Macroeconomic forecasts are predictions or forecasts that are made with regard to a country’s economic scenario. This forecast is made on the basis of various types of data available and measurable such as rate of employment, the state of industries in the nation, inflation and price levels across and industrial production.

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While microeconomic forecasting are designed to provide information of any changes happening within an industry or a company/firm. Basically, it is the study of individual economic units for instance behaviour for a particular industry, which is also called price theory. Macroeconomics on the other hand is the study of aggregates and talks about economy as a whole, for instance total employment rate, total price levels and national income etc.

In the field of professional forecasts, forecasts or predictions are a continuous process which is done to gather new data and information, thereby gathering new insights. Forecasters make their forecasts differently as some may perform a forecast on an annual basis, the other might make a weekly study about same. They have their own studies and reflections and hence provide diverse comments.

Edited and Updated 08th March 2014

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