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Essay / Research Paper Abstract
This 6 page paper reports economic forecasts from three different state level agencies. The 2004 and 2005 forecasts include GDP; national unemployment; personal income, inflation and interest rates. The writer then compares and contrasts the forecasts in the narrative. Recommendations are made for strategic plans based on the forecasts. 5 Tables included. Bibliography lists 3 sources.
Page Count:
6 pages (~225 words per page)
File: MM12_PGecfrc.rtf
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Unformatted sample text from the term paper:
2005 Ohio Legislative 6.1% 5.5% Colorado Legislative 4.7% 3.3% Oregon Office 3.8% 3.4% Table 2: National Unemployment 2004 2005 Ohio Legislative 5.3% 5.0% Colorado Legislative 5.7%
5.4% Oregon Office 6.1% 5.9% Table 3: National Personal Income 2004 2005 Ohio Legislative 6.5% 5.6% Colorado Legislative 4.7% 5.1% Oregon Office 4.5% 5.0% Table 4:
National Inflation 2004 2005 Ohio Legislative 2.4% 2.6% Colorado Legislative 3.7% 3.1% Oregon Office 1.6% 2.0% Table 5: Prime Rate Interest 2004 2005 Ohio Legislative 4.2%
4.1% Oregon Office 4.05% 4.86% The Colorado office did not offer forecasts for interest rates. The greatest discrepancies are found in the forecasts for national GDP for both
2004 and 2005, inflation in 2004, and the 2004 increase in personal income. The greatest similarities are found in the forecasts for the prime rate and unemployment rates in both
2004 and 2005. The implications for low interest rates are consumer spending. The forecasted low prime rate for both years would encourage companies to expand and grow if all
other factors are correct. Low interest rates also encourage consumer spending, particularly of large-ticket items such as houses, cars and major appliances. Now is the time for companies to
develop strategic plans that include expansion of facilities, if appropriate, and updating equipment, especially information technology equipment. Personal income is forecasted to rise at greater percentage levels than inflation.
This means consumers will have more disposable income. Personal income is forecast to rise by 4.5 percent, 4.7 percent and 6.5 percent by the three different state-level economic agencies. At
the same time, inflation is forecast at 1.6 percent. 3.7 percent and 2.4 percent. A 2 percent difference in these areas is larger in practice than it sounds like. It
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