I have a bit selfish method how I think about economy: how much I can get (material and services) ?
What I also mean is,.. even when I see nice numbers, statistics and hear cheering/bragging about economy I'm not really convinced if I can't see improvement in my personal life. I tend to prioritize my personal experience over other stuff as source of credible information when it's about economy. Answer to that 'how much I can get' is related to purchasing power - when my purchasing power goes up, I'm pretty sure my economics is in better shape and I assume I'm not like an anomaly in huge economical environment. How I see it is: there's lot of economical forces moving on and I'm just one individual who's benefiting from it or losing if things go sideways (generally).
What you guys think? Good/Bad/Ugly? For me it's working pretty well and I feel like I'm not far from reality when I'm using that method.
I know there are those traditional ways to think, like using GDP, but for me it's too abstract (as I'm not Economist). I like to know if there is other practical ways evaluate economics. How much we can learn by staring at stock market? My point is that whatever we use to evaluate economics it should be meaningful to us - in that way method is justified and it matters.
(English isn't my native language, but I'm trying to make sensible stuff)