One important economy management aspect is matching your metal income with at least as much energy income and buildpower so you can actually spend it (excess energy is turned into a bit of extra metal). And then yes, you should spend it, but the factories support queues (including automatic re-queueing), and you can of course shift-queue buildings.
Another important aspect is that dead units leave behind metal scraps. This can boost your metal income substantially (e.g. if a failed enemy attack leads to a bunch of dead units near your base).
In short, balancing metal income (/territory expansion) with energy income and buildpower is the core economy management loop. But because units have pretty capable AI (e.g. auto-kite when applicable), you can devote a lot more of your attention to this aspect, as well as higher-level decision making.