Macroeconomic Analysis of U.S. Economy

Paper Summary:

In this article, the writer discusses that according to U.S. government economists, the U.S. economy was adversely affected by a sharp increase in energy prices in mid-2005; however, these prices had fallen to their earlier levels by the end of the year. Furthermore, the writer notes that the impact of Hurricane Katrina continued to be felt in those regions of the country most severely affected, but government economists report that this event had little influence overall on the nation's GDP growth at the beginning of 2006. The writer points out that the funeral service industry is enjoying major growth today, and these trends are expected to continue in the future. Further, the writer maintains that shifts in the demographic composition of the U.S. will clearly have a pronounced effect on the funeral service industry, just as it will on allied healthcare services.

Outline:
Qualitative Evaluation of First Quarter 2006 U.S. Economic Performance
Forecast for the Future Performance of the Funeral Service Industry

From the Paper:

"Although the housing industry experienced mixed growth, but overall this industry appears to be on a downward trend following several years of robust growth; by contrast, business was expected to reap the increasing benefits from costs of scale production and innovation in telecommunications and computer-based applications. According to the Fed's Open Market Committee meeting minutes, outlays for equipment and software had regained their strength by early 2006, and capital spending continued to be healthy with the business sector's output expanding significantly."
"During this same period, many firms enjoyed large cash surpluses as well as price declines for high-tech equipment that has caused decreases in user costs. Likewise, in his remarks at the Greenlining Institute's Thirteenth Annual Economic Development Summit at Los Angeles, California on April 20, 2006, Federal Reserve Board Chairman Ben S. Bernanke reported that while the nation's economic performance can be discerned through both qualitative and quantitative indicators; however, the chairman also emphasizes the need to extend this analysis to the social and economic data at the community level."

Sample of Sources Used:

• AARP. (2006). American Association of Retired Persons. Retrieved April 20, 2006 from http://www.aarp.org/.
• Bernanke, B. S. (2006, April 20). Remarks at the Greenlining Institute's thirteenth annual economic development summit, Los Angeles, California (via satellite). The Federal Reserve Board. Retrieved April 20, 2006 from http://www.federalreserve.gov/ boarddocs/speeches/2006/20060420/default.htm.
• Cotis, J. P. (2006, March 6). Recovery on track after recent economic weakness in US and euro area, says OECD's Cotis. Organisation for Economic Co-operation and Development. Retrieved April 20, 2006 from www.oecd.org.
• Frank, D. S., & Hecker, D. E. (2004). Occupational employment projections to 2012. : Monthly Labor Review, 127(2), 80.
• Quarterly economic forecast for the United States. (2006). Frost & Sullivan. Retrieved April 20, 2006 from http://www.frost.com/prod/servlet/cif-fs-index-us.pag.

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