...domestic product (GDP), U.S. manufacturing employment trends, and the state of Illinois employment trends in order to forecast company sales over the next few years. Specifically, this paper analyzes the GDP and the employment trends over the past four years. It also discusses the effect GDP has on the U.S. economy (such as inflation) and how technology and the lack of skilled labor have affected the employment trends. Statistics will also be shared showing the change in GDP and the different employment trends. The consumer price index over the last four years will also be examined to measure the pace of inflation. Keywords: gross domestic product (GDP), employment trends, inflation, consumer price index (CPI) Taking it to the Net So how do you forecast a company’s sales for the next two years? What kind of data do you review to make an educated forecast? A company’s future sales can be determined by many different factors, some of these factors include: the gross domestic product in the United States, employment trends in the manufacturing industry and the consumer price index. The state of Illinois’ employment trends will also be discussed and what economic changes have inclined the changes in them. Government bureaus such as the Bureau of Economic Analysis and the Bureau of Labor Statistics have created countless databases to disclose all of this information to the public. So what do these factors mean? Gross domestic product or GDP is the total value...
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...the health of a country’s economy. GDP represents the total dollar value of all goods and services produced over a specific time period (Koba, 2011). The figures are released every business quarter by the Business Economic Analysis. What does the data mean and how will it affect our U.S. citizens. U.S. Gross Domestic Product Growth Rate Going Forward This paper will cover the United States Gross Domestic Product (GDP). This paper will provide trends, forecast, and statistics for GPD. This paper will explain how GDP is determined and what the data means. This paper is prepared to present to the local chamber of commerce. COC members will have an idea of what the future of the United States economy will offer based on the recent economic activities. Gross Domestic Product Gross Domestic Product (GDP) is the value of a country’s overall output of goods and services at market prices (businessdictionary.com). GDP is also used to compare the economic achievement of other countries in comparison to the United States. Economist use GDP data to determine if the economy is inflating or receding. The Gross Domestic product (GDP) expanded 1.30 percent in the second quarter of 2012. From 1947 until 2012 the United States GDP growth rate average 3.3 percent reaching an all-time high of 17.2 percent in March of 1950 and a record low of -10.4 percent in March 0f 1958 (tradingeconmics.com). How GDP is Determined The Bureau of Economic...
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...paraphrased. I also certify that this paper was prepared by me especially for this course. Research Paper The United States began its roots in domestic trade products in three different centuries. By forming thirteen farming colonies, the economies made a living in which they could survive. Though, in 1776 the colonies felt the need to join together to form the United States and thus became an industrialized world by manufacturing coal, iron, and oil (Chitwood, 1961). Over the centuries the United States has been able to maintain high wages for jobs because of their assurance materials and social principals. This paper will entail some trends, forecasts, and statistics for the expected growth rate of the United States’ gross domestic products (GDP). It will detail how the GDP is determined and how it can be interpreted. Every month the Bureau of Economic Analysis (BEA) updates the trend, forecasts, and statistics for the GDP. It announces the growth of the GDP and depicts how quickly the economy has flourished from the last quarter. The BEA suggests that the quarterly yield should be 2-3% because this steady trend will assist the economy in job production without causing inflation (Chitwood, 1961). The only time the BEA would suggest a higher quarterly yield would be when there is a recession because it will keep the economy’s unemployment rate to a minimum. Trends portray the magnitude in which a country will survive depressions and recessions. Every...
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...tourism has a direct effect on the social, geographical, and economic sectors both national and international. Based on an economic perspective tourism bring an enormous amount of revenue for goods and services accounting for 30% of the world's exports of services, and 6% of overall exports of goods and services WTTC. This impact is driven by many travel organizations and travelers desire for leisure, wellness, business and social travel. The next section will convey the understanding of how the economy drives tourism, the changes in travel policies., the structure of organizations, how the policies correlates, and to what affect does travel organizations has on the industry growth. Travel Organizations According to OECD Tourism Trends and Policies, governments are becoming increasingly aware of the importance of...
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...U.S Economy vs China The United States has had the world’s largest economy for about 140 years, and it roughly accounts for 22% of global GDP. However in recent times, China has overtaken the United States to become the world’s largest economy, according to figures from the international Monetary Fund. The simple logic is that as prices aren’t the same in each country, the IMF measures both GDP in market exchange terms, and in terms of purchasing power. In fact we already know that a typical person in china earns a lot less than the typical person in the US according to Business Insider. However, some analysts such as Bloomberg reports are quick to point out that according to the main benchmark, the US is still number one. China’s economy may now be the largest in the world but it is far from the richest. GDP per head is still less than a quarter of US levels according the Financial Times. According to the International Monetary Fund, China’s purchasing power GDP hit $17.6 trillion last year versus $17.4 trillion in the US. According to CEBR, China’s gross domestic product will grow to $33,513 billion in 2028, up from $8,939 billion in 2013. The simple logic is that prices aren't the same in each country: A shirt will cost you less in Shanghai than in San Francisco, so it's not entirely reasonable to compare countries without taking this into account. The Economist’s calculations assumed that China’s real GDP will grow at 7.75% a year with 4% inflation vs. 2.5% and 1% in...
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...of data sources. The Bureau of Labor Statistics, the Bureau of Economic Analysis, Census, OECD, World Bank, International Monetary Fund, and the Federal Reserve System database are a few to mention. FRED also includes the national economic and financial data including interest rates, consumer price index, employment and population, and trade data. This database is a valuable source because this allows citizens to see where the country’s financial state is at. Bureau of Economic Analysis, U.S. Department of Commerce The Bureau of Economic Analysis is the federal agency responsible for measuring the U.S. economy, or as some say, BEA is the nation’s accountant. It is responsible for measuring what is produced, what is earned, and how it is spent. BEA is well known as one of the world’s premier economic statistical agencies, producing some of the most closely watched economic indicators and leading the way in cutting-edge macroeconomic measurement (U.S. Department of Commerce, 2012). The value and usefulness of the BEA is that it pulls a wealth of data from the public and private sector and provides a consistent picture of economic activity for the nation as a whole and for various sectors. It also interacts with the rest of the world, providing data of the trades and international investments. This is considered to be among the most timely, relevant, and accurate data in the world. BEA produces a variety of economic statistics through the national, international, regional...
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...Economic Forecast Paper The discussion in this paper is about Economic Forecast. The different places that are discussed will be The Bureau of Labor Statistics, The Economic Report of the President, The Federal Reserve System, and The United States Census Bureau. Over the course of this paper we will see how each department is important in our economy and what each department does in order to help or hinder the economy. The Bureau of Labor Statistics The Bureau of Labor Statistics (BLS) was established on June 27, 1884 as a division of the Department of the Interior. President Chester Arthur appointed Carroll Wright as the first Commissioner of Labor. Many studies, reports, and statistical ideas developed under Wright’s tenure, “but perhaps his greatest accomplishment was the establishment of the principle that the Bureau would be devoted to ‘the fearless publication of the facts without regard to the influence those facts may have upon any party's position or any partisan's views’” (“History of BLS”, 2013). As the fundamental fact finders for the Federal Government in the area of labor economics and statistics, the BLS collects data from various sources. It processes and analyzes the data before publishing essential statistics for use by the American public; federal, state, and local governments; and businesses. “BLS data must satisfy a number of criteria, including relevance to current social and economic issues, timeliness in reflecting today’s rapidly changing economic...
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...develop a regression model to predict mileage (as measured by miles per gallon) based on the horsepower of the car’s engine and the weight of the car (in pounds). Data were collected from a sample of 50 recent car models, and the results are organized and stored in the attached spreadsheet Auto. | |Coefficients |Standard Error |t Stat |P-value | |Intercept |58.15708245 |2.658248208 |21.87797297 |2.761E-26 | |Horsepower |-0.117525467 |0.032643428 |-3.600279529 |0.000763128 | |Weight |-0.006870645 |0.001401173 |-4.903494042 |1.16491E-05 | a. State the multiple regression equation. Mileage = β0+ β1*Horse power + β2*Weight +Error The estimated regression equation is Mileage =58.157-0.1175*Horse power -0.00687 *Weight b. Interpret the meaning of the slopes, b1 and b2, in this problem. The regression coefficient of Horse power β1 and weight β2 can be interpreted as • For a unit a increase in horse power, the Mileage decrease by 0.1175 units. • For a unit a increase in weight, the Mileage decrease by 0.00687 units. c. Explain why the regression coefficient, b0, has no practical meaning in the context of this problem. The regression coefficient β0 represent...
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...APPS Contents 1.0 Introduction ................................................................................................................................ 3 1.1 Overview of Amplifier Agency ...................................................................................................... 3 1.2 International Business Objectives ................................................................................................. 3 2.0 International marketing opportunities ............................................................................................. 5 2.1 International Trade Patterns......................................................................................................... 5 2.2 International Marketing Trends .................................................................................................... 9 Smart Phone and Android Market Analysis .................................................................................... 9 2.3 International business opportunities .............................................................................................. 12 2.3.1 Country assessment ................................................................................................................. 12 USA ................................................................................................................................................ 13 Singapore ............................................................................
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...REAL GDP IN THE U.S. (IN BILLIONS) 2004-2013 17,000.0 16,000.0 15,000.0 14,000.0 13,000.0 12,000.0 REAL GDP VALUE 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Since the two year drop in 2008 and 2009, real GDP has risen every year by at least 1.5%. This indicates the continued development and purchase of new domestic products, contributing to a healthier economy. The United States has seen growth for four straight years, and is going on it's fifth now. While its growth hasn't been as high as 2004-2007's has been, it's still an obvious marked improvement from the economic downturn of 2008 and 2009. REAL POTENTIAL GDP (IN BILLIONS) 2004-2013 17,000.0 16,000.0 15,000.0 REAL POTENTIAL GDP 14,000.0 13,000.0 12,000.0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Real potential GDP has consistently risen every year over the last ten years, including during the economic downturn of 2008-2009. A rise in real potential GDP generally indicates the economy is capable of producing more goods and services at their full potential every year. Real potential GDP tends to coincide with rises in real GDP. The United States is consistently rising in real potential GDP, and that indicates the economy has more and more economic potential every year. REAL GDP GROWTH (2004-2013) 4.00% 2.00% 0.00% -2.00% -4.00% REAL GDP GROWTH 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Real GDP growth is a percent change of how much real GDP has...
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...Room to grow European cities hotel forecast for 2014 and 2015. 18 gateway cities, Amsterdam to Zurich March 2014 www.pwc.com/hospitality II Room to grow Contents Summary 2 How did 2013 turn out? 4 Spotlight on prospects for 2014 and 2015 6 Beyond the data: trends transforming hotel businesses 14 Economic, travel and supply outlook 20 From Amsterdam to Zurich: Which cities are best placed to grow? 25 Appendices: Full data tables 49 Further reading 52 Contacts 53 Summary This third edition of our European cities hotel forecast is published against a backdrop of a region that has taken an economic pounding but is seeing clear evidence of economic recovery and returning confidence The world is changing at a pace and in this snapshot (taken in February 2014) we look forward to a resurgence in travel and hotel prospects in 2014 and 2015. 2 Room to grow (c)Suzanne Christ In terms of where hotels are compared to before the recession, in nominal terms the market is almost back at its pre-recession peak (reached during 2007) but it remains significantly behind in real terms. For example, European ADR is now only 5.7% below its pre-recession levels in nominal terms but 17.9% lower in real terms. There are 18 cities in this econometric forecast – all are important gateway cities and/or business and tourism centres and some are en route to becoming mega cities. The 18 reflect ...
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...economic situation analysis and influence, Functional beverages industry policy and plan, Functional beverages product specification, manufacturing process, product cost structure etc. then statistics Global and China key manufacturers Functional beverages capacity production cost price profit production value gross margin etc details information, at the same time, statistics these manufacturers Functional beverages products customers application capacity market position Activationontact information etc company related information, then collect all these manufacturers data and listed Global and China Functional beverages capacity production capacity market share production market share supply demand shortage import export consumption etc data statistics, and then introduced Global and China Functional beverages 2009-2013 capacity production price cost profit production value gross margin etc information. And also listed Functional beverages upstream raw materials equipments and down stream clients survey analysis and Functional beverages marketing channels industry development trend and proposals. In the end, this report introduced Functional beverages new project SWOT analysis Investment feasibility analysis investment return analysis and also give related research conclusions and development trend analysis of Global and China Functional beverages industry. In a word, it was a depth research report on China Functional beverages industry. And thanks to the support and assistance from...
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...theories, principles, and models that relates to the applications of market processes. It is important because the data can provide a financial snapshot of the economy's future health. The United States government and its economists have valuable resources such as the Bureau of Labor Statistics (BLS), the Federal Reserve Economic Data (FRED), and United States Census Bureau. Just a few used to create models and apply action plans to forecast and control economic incidents. The Library of Economics is an excellent resource to use as it provides many credible sites. Resources The Bureau of Labor Statistics (BLS) is an excellent resource as it covers CPI (Consumer Price Index), Inflation and Unemployment statistics. This website has many different layers that contain regional data, last year's data, customized tables, etc. Due to it is in depth data, I feel that out of the two, the BLS would be most beneficial for both historical data and forecasting data. The Federal Reserve Economic Data (FRED) is useful because it shows current and past years CPI, GDP and Unemployment Rate. It also includes interest rates, exchange rates and price data (Federal Reserve Economic Data). The Federal Reserve Economic Data site may not be as detailed as the Bureau of Labor Statistics site but still contains a variety of useful information. (World Monetary Fund, 2013) The Census Bureau is another reliable source to compare historical data and geographic information...
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...economies of the world have been affected and so has the major sectors of these economies especially the ones that has a direct bearing with international trade been affected. The oil sector particularly has been one of the hit. For a country like Nigeria whose international trade is majorly in oil, the effect has become an issue. Empirical analysis using the Ordinary Least Square (OLS) reveals that there was a negative relationship between GDP and oil produced (domestic consumption and export) which is significant at 5% lever of significance i.e. (P < 0.05). The result also showed that there exists decline in the oil sector due to the global recession despite all measures given by government to curb it effects. It was Jan 2012 recommended that the federal government needs to deregulate the sector for efficient performance, and also come up with more rigorous policies that will reduce this effects on the real sector most especially the oil sector whose contribute the largest portion of income in the Nigerian economy. Keywords: Gross Domestic Product (GDP), Oil Price, Oil Export and Domestic Consumption. Introduction Current Global Crisis started as a financial crisis but now a Global Economic Crisis. The crisis is unprecedented in severity of credit contraction (credit crunch & capital crunch). The...
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...percent of the country's total population. When the island of Sumatra is included, this figure rises to approximately eighty percent of Indonesia's total population, indicating a significant population concentration in the western part of the country. The most populous province is West Java (with more than 43 million people), while the least populous province is that of West Papua in the far eastern region of Indonesia (having around 761,000 people). Map of Indonesia Five Most Populous Provinces (in millions) Province | Population | 1. West Java | 43.1 | 2. East Java | 37.5 | 3. Central Java | 32.4 | 4. North Sumatra | 13.0 | 5. Banten (Java) | 10.6 | Source: Statistics Indonesia Population Census 2010 This section discusses a number of important aspects regarding Indonesia's demographic composition. Topics that are discussed include Indonesia's population growth, age structure and urbanization. Each of these topics is linked to Indonesia's (potential) economic performance. Indonesia's Population Growth The annual national population growth rate of Indonesia between 2000 and 2010 was an average of 1.49 percent. This growth was highest in the province of Papua (5.46 percent), while the...
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