Economic Forecasting Vocabulary

adverb approximately is an adverb that is used to indicate an estimated or rough amount or number.

preposition It can also act as a preposition when used to show an estimated position or direction.

• The project is expected to be completed in approximately six months.
• I'll be there in approximately 10 minutes.
• I've been waiting for approximately forever.
• Her patience was wearing thin, she was approximately ready to explode.

noun An approximate calculation or judgment of the value, number, quantity, or extent of something

verb To roughly calculate or judge the value, number, quantity, or extent of something

• The project manager provided a detailed estimate of the costs involved.
• I tried to estimate how much time it would take to finish the assignment.
• I can only give you a rough estimate of how many people will show up to the party.
• She could only estimate the depth of his emotions towards her.

verb to estimate or conclude something by extending or projecting known information

• The researchers extrapolated the data to predict future trends.
• I extrapolated from the information given that the project will be completed on time.
• I totally extrapolated that she was into him based on how she was acting.
• He extrapolated the story of his childhood to illustrate a larger point about resilience.

verb fall behind in movement, progress, or development; be delayed

• The company's profits are lagging behind projections for this quarter.
• Our team is lagging behind in the competition, we need to step up our game.
• I can't believe you're still lagging, hurry up!
• Her dreams were lagging behind her reality, causing her to feel stuck.

verb to serve as a warning or indication of a future event

• The dark clouds gathering in the sky portend a storm approaching.
• I have a bad feeling about this, it seems to portend something negative.
• The sudden drop in sales numbers portend trouble for the company.
• The sudden appearance of a black cat crossing your path is said to portend bad luck.

noun a person or thing that predicts something, such as a future event or outcome

• The predictor variable was found to have a significant impact on the outcome of the study.
• The predictor we used in our analysis really made a difference in the results.
• That predictor totally nailed the forecast for the game.
• Her intuition acted as a predictor of the impending danger.

verb to engage in thought or reflection; to make guesses or hypotheses about something without having definite knowledge

• It is not appropriate to speculate on the outcome of the investigation without concrete evidence.
• I can only speculate about what might happen next in this situation.
• I heard some people speculating about who will win the game tonight.
• She liked to speculate on the possibilities of the future, like a dreamer lost in thought.

adjective describing something that was not expected or foreseen

• The company faced financial difficulties due to unanticipated changes in the market.
• I was caught off guard by the unanticipated rainstorm during our picnic.
• I didn't expect that plot twist in the movie, it was totally unanticipated!
• The unanticipated wave of emotions hit me like a ton of bricks.

noun A grey rhino is a large mammal with thick skin and one or two horns on its nose.

• The grey rhino is a metaphor for a highly probable, high-impact yet neglected threat.
• I heard that the grey rhino is a term used to describe a big and obvious problem that people are ignoring.
• Yo, did you see that grey rhino walking down the street? It's like a huge problem just waiting to happen.
• The grey rhino in the room is the looming economic crisis that no one wants to address.

noun RBF can be misleading as it may not accurately reflect a person's true emotions.

• Radial Basis Function (RBF) is a mathematical function used in machine learning for pattern recognition.
• I used RBF to improve the accuracy of my machine learning model.
• RBF is like a magic formula that helps the computer learn better.
• The RBF acts as a bridge between the input data and the output prediction in machine learning.

noun a weather forecast that provides information on current weather conditions

• The meteorologist provided a nowcast of the weather conditions for the next hour.
• I checked the nowcast before heading out to see if I needed an umbrella.
• I always trust the nowcast on my weather app for accurate updates.
• The CEO's nowcast of the company's financial future was optimistic.