What is a coincident economic indicator?
Could you please explain in detail what a coincident economic indicator is? I'm particularly interested in understanding how it differs from leading and lagging indicators, and what specific types of data it typically encompasses. Also, how do economists and policymakers utilize coincident indicators in their decision-making processes? Finally, could you give some examples of real-world applications of coincident indicators in the field of economics?
What are coincident economic indicators?
Could you elaborate on what coincident economic indicators are? Are they used to gauge the current state of the economy? If so, how do they differ from leading and lagging indicators? What specific data points might be considered as coincident indicators, and how are they used in economic analysis? Additionally, are there any limitations to relying solely on coincident indicators when assessing the economy's health?