Share This Article:

Economic Definition of forecasting. Defined.

Offline Version: PDF

Term forecasting Definition: The process of anticipating and predicting economic conditions months or years before fact using statistical estimation techniques the model economic activity. Forecasting most often employs sophisticated mathematical models (with hundreds equations). However, specific measures (such as the stock market) or composite indexes that have been shown to lead economic activity (that is, leading economic indicator) are also effectively used for forecasting.


« For Whom? | foreclosure »


Alphabetical Reference to Over 2,000 Economic Terms