Refers to the overall production, distribution, and consumption of goods and services within a nation. It encompasses various factors such as GDP growth rate, employment rate, inflation, trade balance, etc.
Related terms
Gross Domestic Product (GDP): The total value of all goods and services produced within a country's borders in a specific period.
Unemployment Rate: Percentage of people in the workforce who do not have jobs but are actively seeking employment.
Inflation: The general increase in prices over time that reduces purchasing power.