Economic conditions

Definition

Economic conditions refer to the state of an economy at a particular point in time. They encompass various indicators such as GDP growth rate, unemployment rate, inflation rate, consumer confidence, and business sentiment.

Related terms

Unemployment rate: The percentage of the labor force that is unemployed and actively seeking employment.

Consumer price index (CPI): A measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Business cycle: The recurring pattern of expansion (growth) and contraction (recession) in an economy over time.