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How Trading Economics Works

How Trading Economics Works

Have you ever thought about how to access worldwide data to make informed decisions regarding buying and selling of assets? Let’s read this article and take an in-depth look at trading Economics to make profitable decisions in the world of finance.

What is Trading Economics

It is an online data provider site that gives its users accurate information for 196 countries, including historical data and predictions for more than 20 million economic indicators, exchange rates, stock market indexes, government bond yields, and commodity prices. This data for economic indicators is based on official sources, not third-party data providers, and the facts are checked daily for inconsistencies. It has received about 2 billion page views globally.

The software covers page offers a heat map and a table that provides a vast range of economic data on several geographic regions. Economic data is represented on the home page, including year-over-year stock price changes, currency fluctuations, bond changes, GDP growth and inflation, quarter-to-quarter GDP growth and jobless rates, and many more. Geographical regions include different regions of Europe, Asia, America, the Middle East, and the Asia Pacific regions.

Which Type of Data Trading Economics Provide

Data from 196 Countries

Every country’s economic data is provided on this platform. The list of countries can be approached by hitting on countries at the upper side of the page. The data provided are filtered out by the entity from which the data is supplied.

For example, categories of data given for the United States consist of National Statistical Data like Balance of trade, current account and unemployment rate, federal reserve data including consumer price index and gross domestic product additionally broken by industry and state. Furthermore, capital personal income, International Monetary Fund data and statistics, and World Bank data. The collection of data provided for each country is splendid.

2 Million Plus Indicators

The indicators section at the upper side of the home page gives the ability to see country and regional data on multiple commonly used economic indicators, contains GDP growth rate, interest rate rank, jobless rate rank, and immense World Bank indicators. Every separate page provides the ability for users to select the region.

However, the Charts display the top countries for the selected economic indicator. The table at the end of the page displays the data for every country in the selected region and can be exported into Excel. News for the associated economic indicator is displayed at the bottom of the page.

Trading Market Insights

In Trading Economics, the last section is Markets lists country and regional data for exchange rates, stock markets, government bonds, and commodities. In the exchange rates section, the current exchange rate and the weekly, monthly, yearly, and year-to-date percentage modification for every current pair are provided.

Furthermore, a chart is displayed, and the data in the table can be exported. Similar data is provided for the stock market, government bonds, and commodities pages. It offers a wealth of economic data free of cost. It offers a convenient aggregation of all kinds of reports released by government bureaus all over the world.

Who Takes Benefit from Its Data?

It is utilized by a vast range of individuals and organizations based on investors, traders, economists, analysts, and policymakers. Investors and traders use this tool to make enlightened decisions about selling and purchasing assets. Economists and analysts utilize the data to conduct research and make predictions. However, policymakers utilize the data to make decisions about economic policy.

Salient Features of Trading Economics

  • Economic Indicators: This website provides a huge database of economic indicators, including GDP, inflation, interest rates, exchange rates, and many more. You can customize the data by choosing desired countries, indicators, and periods. The site also offers historical data going back to different decades and predicts the future.
  • News and Analysis: It provides news and analysis on the newest economic events and trends globally. You can read articles, reports, and charts that offer insights into the worldwide economy.
  • Customizable Dashboards: It allows you to create customizable dashboards that show the economic indicators that you will find most convenient to use. Furthermore, you can choose specific countries, indicators, and periods to build a personalized view of the data.
  • API Access: It provides API access to its data and gives access to developers to create custom applications that utilize economic data and analysis.

How to Find Data on Trading Economics

  • Choose Countries and Indicators: You can choose the countries and indicators that are most appropriate to you. The website provides data for over 196 countries and a wide range of economic indicators.
  • Customize the Data: You can customize the data by choosing specific periods and adjusting the frequency of data. This website also gives the option to download the data in multiple formats, including CSV and Excel.
  • Analyze the Data: You can analyze the data utilizing the site’s various instruments and features, including charts, graphs, and customizable dashboards. The website also provides news and analysis on the newest economic events and trends globally.

Pros of Trading Economics

  1. Vast Economic Data: It provides comprehensive data on the worldwide economy, including historical data and predictions. The website gives a vast range of economic indicators, allowing users to analyze the depth of data.
  2. User-Friendly Interface: It has a user-friendly interface that makes it easy to navigate and analyze the data. The site also provides several tools and features that allow users to customize the data and build personalized dashboards.
  3. Real-Time Updates: This platform provides real-time updates on the latest data releases and economic events. It allows users to stay up-to-date with advanced developments and make well-informed decisions based on current market conditions.
  4. API Access: It also caters to API access to its data, allowing developers to create custom applications that use economic data and analysis. Moreover, it makes it a valuable instrument for businesses that need to incorporate economic data into their functionalities.

Cons of Trading Economics

  1. Paid Subscription: While it provides a lot of data for free, some functions require a paid subscription. It can be a negative point for individuals and businesses on a tight budget.
  2. Data Quality: The quality of economic data can alter from country to country, and it relies on data from several sources. Therefore, there may be some deviations or errors in the data.

Final Words

In this Trading Economics guide, we have described all the features of this online data provider platform. It is an essential tool for individuals, businesses, and governments all over the world. However, it provides an extensive database of economic indicators, historical data, and deep insights into the world, making forecasting easy and hassle-free.

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