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Economic Indicators

Economic Indicators Paper
University of Phoenix
Economics for Business I
ECO/360
Professor James Harris
May 3, 2007

Economic Indicators Forecast Paper
In our paper we are going to discuss six key indicators of the automotive industry. We are going over two 18-month forecast for each indicator and we are going to compare and contrast each forecast. The other interesting points we are going to go over are the differences between the forecast for each economic indicator. The six indicators we are using are GDP, Unemployment Rate, CPI, Retail Sales, PPI and Auto Sales. We are going to start with GDP.
GDP
The easiest way for us to express the compare and contrast between the GDP was through a table to show the differences in the rates.
GDP FORECAST Vs ACTUAL RESULTS
|Year |Forecast |Actual |Change |
|2003 |2.4 |3.1 |0.7 |
|2004 |4.5 |3.8 |0.7 |
|2005 |3.8 |3.5 |0.3 |
|2006 |3.5 |3.3 |0.2 |

The difference between 2003 and 2004 for 2005 was .70% and the actual GDP for 2005 was “3.5” (Strauss & Engel, 2006). GDP may have been less then predicted in 2005 but it still was up as stated here “Real gross domestic product grew at a solid pace throughout the first three quarters in 2005” (Strauss & Engel, 2006).
Unemployment Rate
SEE ABOVE CHART MATRIX
The unemployment rate is compared below:
|Year...