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Economics vocabulary · Economic News and Data

Forecast

Meaning in economics, with examples

/ˈfɔːkɑːst/nounCore term

In economics, forecast means: An estimate of future economic figures, such as growth, inflation or unemployment, based on data and models; it is also used as a verb.

In Turkish: tahmin, öngörü

How it is used

Institutions such as the IMF, the World Bank and central banks publish forecasts and then raise, revise up, cut or revise down their forecasts. The past tense of the verb is forecast or forecasted: the IMF forecast 3% growth.

Example sentences

  1. The IMF cut its growth forecast for the euro area to 1.1%.

  2. Most economists forecast that inflation will fall below 5% by the end of next year.

Common collocations

  • growth forecast
  • revise a forecast
  • cut its forecast
  • inflation forecast
  • economic forecast
  • GDPShort for gross domestic product: the total value of all final goods and services produced within a country in a given period, usually a quarter or a year.
  • economic growthAn increase in the amount of goods and services an economy produces over time, usually measured as the percentage change in real GDP.
  • inflation targetThe rate of inflation that a central bank officially aims to achieve over the medium term, such as 2% a year.
  • headwindsConditions that make economic progress harder, such as high interest rates, weak demand abroad or rising energy prices.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Economic News and Data

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This page explains English vocabulary for learners. It is not financial advice.