Analyzing current data on
BUSINESS + THE ECONOMY +
DEMOGRAPHICS + OTHER FACTORS
yields a balance sheet of current
business economic conditions.
That is, a description of the economic conditions in which
a business or a
market is currently operating.
FOR THE SHORT
TERM THROUGH THE LONG TERM:
THE U.S. ECONOMY,
AN INDUSTRY, A
SHORT-TERM ECONOMIC FORECASTS
Usually for a couple of
years or less, sometimes just for months.
LONG-TERM ECONOMIC FORECASTS
Usually looks out over
the span of a two years to
two or more business cycle.
Futurist scenarios differ from long-term economic
forecasts in that futurist scenarios USUALLY:
Cover a time
span of more than 10 years. It is not unusual
for futurist scenarios to cover an intergenerational time span.
factors other than economic and demographic.
Are for organizations &
outlooks for the
NOTE: The time horizons for longer-term economic forecasting and some
futurist sometimes may overlap.
ECONOMIC SENSORS and TREND ANALYSIS
One way of monitoring and forecasting economic trends
is by creating a custom designed system
of economic sensors. This serves clients by alerting them to
the coming of potentially
significant changes. This is similar to the
dashboard monitoring system under economic
development and planning.