Economic indicator in the context of "Income quintiles"

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⭐ Core Definition: Economic indicator

An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. One application of economic indicators is the study of business cycles. Economic indicators include various indices, earnings reports, and economic summaries: for example, the unemployment rate, quits rate (quit rate in American English), housing starts, consumer price index (a measure for inflation), inverted yield curve, consumer leverage ratio, industrial production, bankruptcies, gross domestic product, broadband internet penetration, retail sales, price index, and changes in credit conditions.

The leading business cycle dating committee in the United States of America is the private National Bureau of Economic Research. The Bureau of Labor Statistics is the principal fact-finding agency for the U.S. government in the field of labor economics and statistics. Other producers of economic indicators includes the United States Census Bureau and United States Bureau of Economic Analysis.

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👉 Economic indicator in the context of Income quintiles

Household income is an economic standard that can be applied to one household, or aggregated across a large group such as a county, city, or the whole country. It is commonly used by the United States government and private institutions to describe a household's economic status or to track economic trends in the US.

A key measure of household income is the median income, at which half of households have income above that level and half below. The U.S. Census Bureau reports two median household income estimates based on data from two surveys: the Current Population Survey (CPS) Annual Social and Economic Supplement and the American Community Survey (ACS). The CPS ASEC is the recommended source for national-level estimates, whereas the ACS gives estimates for many geographic levels. According to the CPS, the median household income was $70,784 in 2021. According to the ACS, the U.S. median household income in 2018 was $61,937. Estimates for previous years are given in terms of real income, which have been adjusted for changes to the price of goods and services.

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Economic indicator in the context of Economy of South Korea

South Korea has a highly developed mixed economy. By nominal GDP, the economy was worth ₩2.61 quadrillion (US$1.87 trillion). It has the 4th largest economy in Asia and the 13th largest in the world as of 2025. South Korea is notable for its rapid economic development from an underdeveloped nation to a developed, high-income country in a few decades. This economic growth has been described as the Miracle on the Han River, which has allowed it to join the OECD and the G20. It is included in the group of Next Eleven countries as having the potential to play a dominant role in the global economy by the middle of the 21st century. Among OECD members, South Korea has a highly efficient and strong social security system; social expenditure stood at roughly 15.5% of GDP. South Korea spends around 4.93% of GDP on advanced research and development across various sectors of the economy.

South Korea's education system and the establishment of a motivated and educated populace were largely responsible for spurring the country's high technology boom and economic development. South Korea began to adapt an export-oriented economic strategy in the 1960s to fuel its economy. In 2022, South Korea was the ninth largest exporter and ninth largest importer in the world. The Bank of Korea and the Korea Development Institute periodically release major economic indicators and economic trends of the economy of South Korea.

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Economic indicator in the context of Bellwether

A bellwether is a leader or an indicator of trends.

In politics, the term often applies in a metaphorical sense to characterize a geographic region where political tendencies match in microcosm those of a wider area, such that the result of an election in the former region might predict the eventual result in the latter. In economics, a 'bellwether' is a leading indicator of an economic trend.

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Economic indicator in the context of Argobba people

The Argobba are an ethnic group inhabiting Ethiopia. A Muslim community, they spread out through isolated village networks and towns in the north-eastern and eastern parts of the country. Group members have typically been astute traders and merchants, and have adjusted to the economic trends in their area. These factors have led to a decline in usage of the Argobba language. Argobba are considered endangered today due to exogamy and destitution as well as ethnic cleansing by the Abyssinian state over the centuries.

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Economic indicator in the context of Agriculture in the Soviet Union

Agriculture in the Soviet Union was mostly collectivized, with some limited cultivation of private plots. It is often viewed as one of the more inefficient sectors of the economy of the Soviet Union. A number of food taxes (mainly prodrazverstka and prodnalog) were introduced in the early Soviet period despite the Decree on Land that immediately followed the October Revolution. The forced collectivization and class war against (vaguely defined) "kulaks" under Stalinism greatly disrupted farm output in the 1920s and 1930s, contributing to the Soviet famine of 1932–33 (most especially the Holodomor in Ukraine). A system of state and collective farms, known as sovkhozes and kolkhozes, respectively, placed the rural population in a system intended to be unprecedentedly productive and fair but which turned out to be chronically inefficient and lacking in fairness. Under the administrations of Nikita Khrushchev, Leonid Brezhnev, and Mikhail Gorbachev, many reforms (such as Khrushchev's Virgin Lands Campaign) were enacted as attempts to defray the inefficiencies of the Stalinist agricultural system. However, Marxist–Leninist ideology did not allow for any substantial amount of market mechanism to coexist alongside central planning, so the private plot fraction of Soviet agriculture, which was its most productive, remained confined to a limited role. Throughout its later decades the Soviet Union never stopped using substantial portions of the precious metals mined each year in Siberia to pay for grain imports, which has been taken by various authors as an economic indicator showing that the country's agriculture was never as successful as it ought to have been. The real numbers, however, were treated as state secrets at the time, so accurate analysis of the sector's performance was limited outside the USSR and nearly impossible to assemble within its borders. However, Soviet citizens as consumers were familiar with the fact that foods, especially meats, were often noticeably scarce, to the point that not lack of money so much as lack of things to buy with it was the limiting factor in their standard of living.

Despite immense land resources, extensive farm machinery and agrochemical industries, and a large rural workforce, Soviet agriculture was relatively unproductive. Output was hampered in many areas by the climate and poor worker productivity. However, Soviet farm performance was not uniformly bad. Organized on a large scale and relatively highly mechanized, its state and collective agriculture made the Soviet Union one of the world's leading producers of cereals, although bad harvests (as in 1972 and 1975) necessitated imports and slowed the economy. The 1976–1980 five-year plan shifted resources to agriculture, and 1978 saw a record harvest. Conditions were best in the temperate chernozem (black earth) belt stretching from Ukraine through southern Russia into the east, spanning the extreme southern portions of Siberia. In addition to cereals, cotton, sugar beets, potatoes, and flax were also major crops. Such performance showed that underlying potential was not lacking, which was not surprising as the agriculture in the Russian Empire was traditionally amongst the highest producing in the world, although rural social conditions since the October Revolution were hardly improved. Grains were mostly produced by the sovkhozes and kolkhozes, but vegetables and herbs often came from private plots.

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Economic indicator in the context of Defective democracy

Defective democracy (or flawed democracy) is a concept that was proposed by the political scientists Wolfgang Merkel [de], Hans-Jürgen Puhle and Aurel S. Croissant at the beginning of the 21st century to subtilize the distinctions between totalitarian, authoritarian, and democratic political systems. It is based on the concept of embedded democracy. While there are four forms of defective democracy, how each nation reaches the point of defectiveness varies. One recurring theme is the geographical location of the nation, which includes the effects of the influence of surrounding nations in the region. Other causes for defective democracies include their path of modernization, level of modernization, economic trends, social capital, civil society, political institutions, and education.

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Economic indicator in the context of Flawed democracy

Defective democracy (or flawed democracy) is a concept that was proposed by the political scientists Wolfgang Merkel (de), Hans-Jürgen Puhle and Aurel S. Croissant at the beginning of the 21st century to subtilize the distinctions between totalitarian, authoritarian, and democratic political systems. It is based on the concept of embedded democracy. While there are four forms of defective democracy, how each nation reaches the point of defectiveness varies. One recurring theme is the geographical location of the nation, which includes the effects of the influence of surrounding nations in the region. Other causes for defective democracies include their path of modernization, level of modernization, economic trends, social capital, civil society, political institutions, and education.

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Economic indicator in the context of Consumer confidence

Consumer confidence is an economic indicator that measures the degree of optimism that consumers feel about the overall state of the economy and their personal financial situation. If the consumer has confidence in the immediate and near future economy and his/her personal finance, then the consumer will spend more than save.

When consumer confidence is high, consumers make more purchases. When confidence is low, consumers tend to save more and spend less. A month-to-month trend in consumer confidence reflects the outlook of consumers with respect to their ability to find and retain good jobs according to their perception of the current state of the economy and their personal financial situation.

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