European Journal of Molecular & Clinical Medicine

Abstract

The most accurate artificial indication of how the national economy has changed is the gross domestic product (GDP). The state of the national economy as well as its dynamic evolution are both analysed using this macroeconomic indicator. We use GDP evolution in the forecasting research. In these circumstances, we may be able to pinpoint the causes of economic development and their effects. Employees, labour productivity, technological level, investments, foreign direct investment, imports, exports or net exports, total consumption, and other factors all have an impact on GDP evolution. The data series and graphical display may be examined. Utilizing econometric techniques and metrics that represent dependency, meaning, and correlation intensity, detailed analysis is carried out. As a result, we forecast economic trends. For the study and forecasting of economic growth, the authors researched and put out a few econometric models. Our adaptation of various econometric models to macroeconomic research is innovative.