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Economic Statistics


Submitted By lakimbrough
Words 7123
Pages 29

The current state of the world economy is quite uncertain. Economic statistics that governments and other financial institutions use to project the economy imply that the world economy is shrinking. Since 2008, the state of the American economy has not been attractive. For instance, the United States economy has not registered any significant growth for the last three years. The 2011 second quarter results indicated that gross domestic product improved by 1%. At the same time, there was slight increase in business fixed investment sector. This was mainly attributed to good performance in software and equipment. In general, the economy seems to be headed for recovery (United Nations, 2010).

There were increased product and services exports as well as over growth in consumer spending. Overall federal government spending increased. This was as a result of increased government spending in military. The issue of oil and turmoil in oil producing countries especially in North Africa has contributed negatively to the economy. High energy costs mean that most sections of the economy will experience high production costs. Final products will be more costly to the consumer and thus leading to reduced consumer spending. A broader look at the state of the economy reveals that the economy is headed for a recovery. Most core sections of the economy have begun to register growth meaning that soon the economy will bounce back (United Nations, 2010).

Macroeconomic Snapshots and Forecast

Several surveys have been conducted to determine the financial situation of United States. Executives' sanguinity about the budget has continued to propagate over the past months, rendering to the outcomes of a McKinsey Quarterly survey in the area. This was carried out throughout the week that U.S. stock markets hit their topmost point so far in 2009. More businesses are

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