5.6 Economic Indicators Summary Page

An economic indicator is any economic statistic such as the Consumer Price Index (CPI), growth rate of the Gross Domestic Product (GDP), unemployment rate, Purchasing Managers Index, indices of consumer confidence, and so on. Such macroeconomic statistics tell us how well the economy has behaved in the past. Some economic indicators are referred to as lagging indicators while others are classified as leading indicators. Leading indicators can provide insights into the future direction of the economy.

OFSAA Rate Management's Economic Indicators module allows you to define and store such historical indicators. Economic Indicators provide baselines from which OFSAA Asset Liability Management can generate forecasts of future values of economic statistics that can affect new business or other modeling assumptions.

To view the Economic Indicators, navigate to Common Object Maintenance and select the Rate Management, and then select Economic Indicators, an empty window is displayed. After you have defined one or more Economic Indicators, the Economic Indicators Summary page shows all the Economic Indicators that you have previously built.

Figure 5-14 Economic Indicators Summary page