What is Forecast and actual?
EconomyOn an economic calendar, the forecast (or consensus) is what economists expect; the actual is the real number. Markets react to the gap: the surprise.
Think of it like: A test score compared with what everyone predicted.
Real example: Forecast 7.9%, actual 7.7%: the October 2022 US CPI surprise sent the S&P 500 up 5.5%.
Lesson: The economic calendar Practise it now: Data Drop Practise it now: Basket Case