翻译题 1.In these times when market forces appear increasingly complicated and more volatile, it is all the more important to understand the professional jargon and terminology in the market place in order to be able to better make our investment and business decisions. Understanding key-economic indicators will assist in the decision making process, providing a snapshot of the current situation and an insight into the future.
Each economic indicator tells us something about the economy or inflation. Gross Domestic Product (GDP) is probably the most important report as it is the whole framework where other economic indicators fall under. Using the textbook formula where Gross National Product = Consumption + Investment + Government Spending + Exports - Imports, some of the indicators will fall into the above-mentioned category e. g. retail sales figures will fall under consumption, construction spending under investment, to name a few.
There are also indicators that are broader that tell us about the economy itself rather than the component, e. g. employment figures, leading indicators, money supply figures ( M3 ). Inflation figures, Produce Price Index ( PPI) and the Consumer Price Index ( CPI) will, in short, inform us of the changes in wholesale prices, cost of consumer ( retail) goods and services respectively.
An indicator that is useful must be accurate, timely and reliable. It depends entirely on the integrity of the national statistical system responsible. It is vital to know the accurate components of an indicator. We have to be mindful of the limitation of these statistical figures too.
Some indicators can be historic or extremely volatile, and therefore their value are reduced. It is better to compare the most recent data with earlier months, or take a moving average for the past 3, 6 or 12 months to smooth the data. It will tell us if there has been a significant change in trend and whether a new direction is under way.