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Economic Projection

In: Business and Management

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Economic Projection

Macroeconomics

In this report I give the statics that I found for each of the economic indicators for 2012 and 2013 along with what I found of the current state of 2014 then I make my best guess with the information I have as to how 2015 will look. I feel from what I have experienced as well as from my research, watching the news and just listening to people talk, 2015 will improve slightly from our current state as well as from comparing it to 2012 and 2013.
The real GDP growth for 2012 was 1.6% and 3.13% in 2013. So far in 2014 it is at 2.43%. Given these numbers we show that production had a significant rise in 2013 and then has slowed down in 2014 slightly, but is still holding steady. I say that as the economy continues to do better so will production. I am predicting that 2015 will be about the same as 2013 at 3.13%.
Unemployment has been steadily going down from each year. It has lowered from 8.1% in 2012 to 7.4% in 2013 to its current 6.4%. I think that in 2015 the unemployment will go down to about 5.4%. I believe the drop of unemployment is mainly due to people giving up on the job search. Some have either not been willing to relocate or have went back to school and some just have given up completely or have switched over to disability income.
The CPI has increased slightly from 0.1% in 2012 and 2013 and at this time it is 0.3%. I think inflation will go up in 2015 to 0.6%. As unemployment drops inflation usually rises. I am predicting that inflation will continue to rise at a rate slightly more than in 2012 and 2013.
The Personal Savings Rate has decreased. In 2012 it was 7.2% then it dropped to 4.9% in 2013 and so far it is at about 4.2%. As employment goes up along with production people are feeling a little more secure in their spending and not saving as much for emergencies. They see an increase in their income and…...

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