Economic forecasting

Economic forecasting is trying to guess what the economy will be like in the future. It's like trying to predict the weather: it's really hard. But economists try to use things like data and history to come up with a good guess. They look at things like how the economy is doing right now, the unemployment rate, wage growth, what inflation is, and other factors. Then they make their best guess as to what the economy is going to be like in the near future.