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Economists use a variety of tools and data to predict how well or poorly the economy will do in the near-term. Experts can analyze figures like the gross domestic product (GDP), unemployment rates, inflation, commodity prices and interest rates, according to a fact sheet published on the Library of Congress website.
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But what’s the number one indicator economists rely on to forecast the country’s financial future? Economists we spoke with agreed that GDP is one of the most important factors — but it may not tell the whole story.
“GDP growth or decline would probably be the standard answer,” said Chris Motola, financial analyst at…
