Major economic indicators that are widely followed by investors include gross domestic product (GDP), consumer price index (CPI), and unemployment rate, according SmartInMoney.com.
Gross Domestic Product: Gauging the economic health
Gross domestic product, commonly referred to as GDP, is commonly used as an indicator of the economic health of a country, as well as to gauge a country's standard of living. GDP measures the overall value of the goods and services produced by the U.S. economy in a specific time period; and is often thought of as the most important economic indicator. GDP is made up of several factors, including public consumption or consumer spending; business investment; federal, state, and local government spending; and net exports (exports less imports).
